USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline downwards
A descent downwards to the next support at 149.65000 is considered certain.
Caution: A possible change in the direction of resistance at 150.27100 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candlestick pattern is found. The candles form ‘Bullish Engulfing’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.77000 |
| 2nd High | 150.69400 |
| Next High | 150.27100 |
| Current Price | 149.66300 |
| Next Low | 149.65000 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing