USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 156.23900 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 155.51600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ chart pattern is found. The chart forms ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 156.23900 |
| Current Price | 156.61900 |
| Next Low | 155.51600 |
| 2nd Low | 154.33500 |
| 3rd Low | 153.40300 |