USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline up.
A continuation of the upward movement upwards to the next resistance at 158.08100 will continue.
Caution: A possible trend reversal in the direction of support at 157.05500 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is found. The chart forms ‘Three White Soldiers’. 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 chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.08100 |
| Current Price | 157.84500 |
| Next Low | 157.05500 |
| 2nd Low | 156.88600 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers