USD/JPY – 30M – BUYFurthermore a ‘StochRSI %K line crosses above %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The currency pair is likely to rise.
Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Current target is 159.683 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of resistance at 159.683 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candle pattern is existing. The candles form ‘Three Outside Up’. 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 probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.028 |
| 2nd High | 159.856 |
| Next High | 159.683 |
| Current Price | 159.57500 |
| Next Low | 159.29100 |
| 2nd Low | 159.111 |
| 3rd Low | 159.1 |
159.683 – 159.636 – 159.253 – 159.29100 – 159.111 – 159.1 —
159.43500 – 159.58300 —
42.907910153266 – 57.06723935632 —
159.29100 – 1776915000 —
159.683 – 1776913200
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – – – – – – – – –