USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 151.74600 will continue.
Caution: A possible trend reversal in the direction of the support level at 150.45300 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ candle chart pattern is discovered. The chart shows ‘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 probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.21600 |
| 2nd High | 151.80100 |
| Next High | 151.74600 |
| Current Price | 151.77300 |
| Next Low | 150.45300 |
| 2nd Low | 149.08300 |
| 3rd Low | 148.86600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers