USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
A bearish trend downwards to the next support at 157.57400 will persist.
Caution: A possible change in the direction of the resistance level at 158.28200 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.54900 |
| 2nd High | 158.51800 |
| Next High | 158.28200 |
| Current Price | 158.14600 |
| Next Low | 157.57400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing