USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline down.
A bearish movement down to the next support level at 149.99100 will continue.
Caution: A possible change in the direction of the resistance level at 151.22600 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.21600 |
| 2nd High | 151.94800 |
| Next High | 151.22600 |
| Current Price | 150.32400 |
| Next Low | 149.99100 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low