USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the bearish trendline up.
A bullish movement up to the next resistance line at 144.50800 is considered certain.
Caution: A possible counter-trend in the direction of support at 142.67800 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.94700 |
| 2nd High | 144.94500 |
| Next High | 144.50800 |
| Current Price | 143.75500 |
| Next Low | 142.67800 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
144.50800 – 144.94500 – 144.80500 – 142.67800 – 143.77800 – 144.17200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji –