USD/JPY – 30M – BUYNext a ‘Double bottom chart pattern’ chart layout is discovered. The chart picture forms ‘Double bottom chart pattern’. which is a positive chart scenario. The pair is likely to go up.
The pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance at 153.753 is expected.
Caution: A possible change in the direction of support at 152.698 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.
Next a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.651 |
| 2nd High | 153.755 |
| Next High | 153.753 |
| Current Price | 153.79400 |
| Next Low | 152.698 |
| 2nd Low | 152.564 |
| 3rd Low | 152.361 |
153.753 – 153.568 – 153.634 – 152.698 – 153.251 – 152.564 —
153.04700 – 153.52600 —
46.011309811641 – 64.204019336844 —
– —
153.753 – 1771291800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – Double bottom chart pattern – – – – – – – –