USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance level at is likely expected.
Caution: A possible change in the direction of the support level at 157.92400 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 158.422 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ candlestick chart pattern is detected. The candles form ‘Three Outside Up’. 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 Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 158.50500 |
| Next Low | 157.92400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up