USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A descent down to the next support at 149.46000 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 150.74700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Matching Low’ candle chart pattern is discovered. The candles form ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.21600 |
| 2nd High | 151.94800 |
| Next High | 150.74700 |
| Current Price | 149.96500 |
| Next Low | 149.46000 |
| 2nd Low | 149.08300 |
| 3rd Low | 148.86600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low