USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 155.518 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 155.047 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Hammer’ candle chart pattern is discovered. The chart shows ‘Hammer’. which 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 likelyhood of ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.975 |
| 2nd High | 155.88 |
| Next High | 155.518 |
| Current Price | 155.53500 |
| Next Low | 155.047 |
| 2nd Low | 154.813 |
| 3rd Low | 154.413 |
155.373 – 155.302 – 154.74 – 155.047 – 154.813 – 154.413 —
155.28200 – 155.63600 —
53.95212187926 – 58.425136533247 —
– —
155.37300 – 1763431200
Trading Signals: FOREX – USD – USD/JPY – JPY – Hammer – – – – –