USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance level at 157.847 is certain.
Caution: A possible counter-trend in the direction of the support line at 157.386 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ chart pattern is discovered. The candles form ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.223 |
| 2nd High | 157.965 |
| Next High | 157.847 |
| Current Price | 158.63300 |
| Next Low | 157.386 |
| 2nd Low | 157.375 |
| 3rd Low | 156.449 |
157.847 – 157.965 – 157.75 – 157.386 – 157.375 – 156.449 —
158.44100 – 158.63900 —
69.72586255327 – 62.793569505548 —
– —
157.847 – 1772744400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – – – – – –