USD/JPY – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 157.4835 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 157.91300 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.91300 |
| Current Price | 157.71000 |
| Next Low | 157.35000 |
| 2nd Low | 157.05500 |
| 3rd Low | 156.88600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows