USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 158.081 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 157.98500 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Tri-Star’ chart pattern is detected. The candles form ‘Bullish Tri-Star’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.98500 |
| Current Price | 157.89300 |
| Next Low | 157.63000 |
| 2nd Low | 157.35000 |
| 3rd Low | 157.05500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Tri-Star