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 158.549 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 158.51800 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Concealing Baby Swallow’ chart pattern is discovered. The chart forms ‘Concealing Baby Swallow’. 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 probability of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.54900 |
| Next High | 158.51800 |
| Current Price | 158.08600 |
| Next Low | 157.92400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Concealing Baby Swallow