USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 154.798 will persist.
Caution: A possible change in the direction of support at 153.615 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘%K crosses above %D’ indicator signal is detected. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair could go up.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.749 |
| 2nd High | 155.88 |
| Next High | 154.798 |
| Current Price | 155.42200 |
| Next Low | 153.615 |
| 2nd Low | 152.815 |
| 3rd Low | 151.537 |
154.482 – 154.444 – 153.254 – 153.615 – 152.815 – 152.957 —
154.65600 – 155.28500 —
53.178628285754 – 59.320912972702 —
– —
154.48200 – 1762214400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – –