USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at 151.94800 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 150.89300 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three White Soldiers’ candlestick pattern is found. The chart forms ‘Three White Soldiers’. 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 probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.21600 |
| Next High | 151.94800 |
| Current Price | 151.82300 |
| Next Low | 150.89300 |
| 2nd Low | 149.68900 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers