USD/JPY – 4H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 155.353 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 157.891 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.875 |
| 2nd High | 158.193 |
| Next High | 157.891 |
| Current Price | 156.61400 |
| Next Low | 156.197 |
| 2nd Low | 153.615 |
| 3rd Low | 152.815 |
157.891 – 154.482 – 154.444 – 156.197 – 153.615 – 152.815 —
156.63800 – 156.98100 —
49.61363344645 – 52.41488340879 —
– —
157.89100 – 1763654400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –