USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance line at 159.223 will continue.
Caution: A possible counter-trend in the direction of the support line at 157.271 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair is likely to rise.
In addition a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 159.223 |
| Current Price | 159.08500 |
| Next Low | 157.271 |
| 2nd Low | 156.449 |
| 3rd Low | 155.534 |
158.899 – 157.965 – 156.818 – 157.271 – 156.449 – 155.534 —
157.97500 – 158.86100 —
51.985652607331 – 66.160186033347 —
– —
158.899 – 1773028800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –