USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 158.08100 is certain.
Caution: A possible change in the direction of the support zone at 156.01700 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candlestick chart pattern is detected. The candles form ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.08100 |
| Current Price | 157.62600 |
| Next Low | 156.01700 |
| 2nd Low | 153.15600 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers