USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance level at 157.84800 will persist.
Caution: A possible counter-trend in the direction of the support level at 156.43300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candle chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.84800 |
| Current Price | 157.58700 |
| Next Low | 156.43300 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers