USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 154.21600 will persist.
Caution: A possible change in the direction of the support zone at 151.79600 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ candlestick pattern is found. The candles show ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.21600 |
| Current Price | 153.05100 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing