USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 157.17900 will persist.
Caution: A possible counter-trend in the direction of the support zone at 156.88600 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.92300 |
| 2nd High | 157.39000 |
| Next High | 157.17900 |
| Current Price | 157.32800 |
| Next Low | 156.88600 |
| 2nd Low | 156.46100 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers