USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 157.848 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 157.82500 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three Outside Up’ candlestick pattern is found. The chart shows ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.06800 |
| 2nd High | 157.84800 |
| Next High | 157.82500 |
| Current Price | 157.70100 |
| Next Low | 156.87200 |
| 2nd Low | 156.63200 |
| 3rd Low | 156.43300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up