USD/JPY – 1H – SELLAdditionally a ‘Rising Wedge Chart Pattern’ chart pattern is existing. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The pair is likely to go down.
The pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline downwards
A bearish trend down to the next support level at 146.814 is expected.
Caution: A possible change in the direction of the resistance line at 148.776 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candlestick chart pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.776 |
| Current Price | 148.13800 |
| Next Low | 146.814 |
| 2nd Low | 146.659 |
| 3rd Low | 146.573 |
148.776 – 148.181 – 147.906 – 146.814 – 147.787 – 146.659 — 59.7415469014 – 54.796330940121 — 96.049431120986 – 90.576284969541 – 95.392910928505 – 94.844148206234
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –