The currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
A bullish trend up to the next resistance line at 162.481 will persist.
Caution: A possible trend reversal in the direction of the support zone at 161.276 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a positive chart signal. The pair is likely to go up.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is found. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The 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 | 162.838 |
| 2nd High | 162.704 |
| Next High | 162.481 |
| Current Price | 162.44200 |
| Next Low | 161.276 |
| 2nd Low | 160.488 |
| 3rd Low | 159.538 |
162.481 – 162.704 – 162.425 – 161.276 – 160.488 – 161.528 —
162.17600 – 162.45100 —
49.94205258974 – 56.483033356441 —
– —
162.481 – 1783972800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –