USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
An ascent up to the next resistance level at 158.263 is expected.
Caution: A possible counter-trend in the direction of the support level at 157.42200 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Line Strike – Bullish’ chart pattern is existing. The chart shows ‘Three Line Strike – Bullish’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.876 |
| 2nd High | 158.7 |
| Next High | 158.263 |
| Current Price | 157.89800 |
| Next Low | 157.42200 |
| 2nd Low | |
| 3rd Low |
158.263 – 158.7 – 158.876 – 157.42200 – 157.819 – 158.008 —
157.61900 – 157.87600 —
25.524027882991 – 47.021830201506 —
157.42200 – 1768791600 —
158.26300 – 1768584600
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Line Strike – Bullish – – – – – – – – –