USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance at 150.23500 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 148.64200 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candlestick chart pattern is found. The candles show ‘Bullish Engulfing’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.94800 |
| 2nd High | 150.74700 |
| Next High | 150.23500 |
| Current Price | 149.94200 |
| Next Low | 148.64200 |
| 2nd Low | 148.39700 |
| 3rd Low | 148.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing