USD/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 149.159 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 149.66000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.18000 |
| 2nd High | 150.14400 |
| Next High | 149.66000 |
| Current Price | 149.56100 |
| Next Low | 148.60100 |
| 2nd Low | 148.17400 |
| 3rd Low | 147.40900 |
149.66000 – 150.14400 – 149.93200 – 148.60100 – 148.17400 – 149.13700
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Black Crows