USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 158.549 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 158.54900 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Up’ candlestick chart pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.14500 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up