USD/JPY – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 142.9995 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 143.89300 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.07800 |
| 2nd High | 144.02700 |
| Next High | 143.89300 |
| Current Price | 142.52300 |
| Next Low | 141.97200 |
| 2nd Low | 141.52600 |
| 3rd Low | 139.88400 |
143.89300 – 143.87500 – 144.02700 – 141.97200 – 143.28500 – 143.22100
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji