USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 152.18000 is expected.
Caution: A possible counter-trend in the direction of support at 151.41300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 152.18000 |
| Current Price | 152.65600 |
| Next Low | 151.41300 |
| 2nd Low | 150.89300 |
| 3rd Low | 149.68900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up