USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 155.742704 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 155.539 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Tweezers Bottom’ chart pattern is found. The candles form ‘Tweezers Bottom’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.176 |
| 2nd High | 155.753 |
| Next High | 155.539 |
| Current Price | 155.31400 |
| Next Low | 154.34 |
| 2nd Low | 153.615 |
| 3rd Low | 153.005 |
155.226 – 155.539 – 155.753 – 154.34 – 154.506 – 155.016 —
155.21800 – 155.49100 —
60.315154699779 – 68.284523567347 —
– —
155.22600 – 1764900000
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Bottom – – – – – – – – –