USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance level at 154.72000 will persist.
Caution: A possible counter-trend in the direction of support at 151.00000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Outside Up’ candlestick chart pattern is found. The chart forms ‘Three Outside Up’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 152.67800 |
| Next Low | 151.00000 |
| 2nd Low | 150.89300 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up