USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend is certain. Target of the current trend is 157.14173 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the resistance line at 158.06800 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 158.06800 |
| Current Price | 157.26500 |
| Next Low | 157.05500 |
| 2nd Low | 156.88600 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines