USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 154.72000 is considered certain.
Caution: A possible trend reversal in the direction of support at 151.79600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 152.853 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 154.72000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ chart pattern is found. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 153.40700 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers