USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
A bullish trend up to the next resistance at 158.163 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 157.422 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘%K crosses below %D’ indicator layout is existing. The indicator shows ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair is likely to fall.
Moreover a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. which is a positive 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 | 159.452 |
| 2nd High | 158.876 |
| Next High | 158.163 |
| Current Price | 158.08000 |
| Next Low | 157.422 |
| 2nd Low | 156.452 |
| 3rd Low | 156.293 |
158.163 – 158.876 – 159.452 – 157.422 – 157.968 – 158.1 —
157.99100 – 158.10300 —
45.708365033037 – 51.257092357949 —
– —
158.16300 – 1768820400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –