USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the upward movement upwards to the next resistance at 155.02100 will continue.
Caution: A possible change in the direction of support at 153.33100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Up’ candle pattern is discovered. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 155.88500 |
| 2nd High | 155.26200 |
| Next High | 155.02100 |
| Current Price | 156.48700 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up