USD/JPY – 30M – BUYThe currency pair breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance at 154.70900 is considered certain.
Caution: A possible counter-trend in the direction of support at 153.40300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle pattern is discovered. The candles show ‘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 chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 154.70900 |
| Current Price | 154.48200 |
| Next Low | 153.40300 |
| 2nd Low | 152.13800 |
| 3rd Low | 151.28200 |