USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 151.22600 is certain.
Caution: A possible trend reversal in the direction of the support level at 149.35800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 151.226 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 151.22600 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 151.94800 |
| Next High | 151.22600 |
| Current Price | 150.87300 |
| Next Low | 149.35800 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers