USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 157.77700 will persist.
Caution: A possible reversal of the trend in the direction of support at 156.01700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bearish SBS White Lines’ candle chart pattern is detected. The chart forms ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.77700 |
| Current Price | 156.77300 |
| Next Low | 156.01700 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines