USD/JPY – 30M – BUY

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 158.3175 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 158.855 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

158.855 – 158.89 – 158.53 – 158.235 – 158.174 – 157.745 —
158.57900 – 158.65400 —
55.464345679154 – 59.013232122261 —
– —
158.85500 – 1769094000

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Down – – – – – – – – –