USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance at 154.47600 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 153.43900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish SBS White Lines’ candlestick pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.47600 |
| Current Price | 154.12200 |
| Next Low | 153.43900 |
| 2nd Low | 153.32100 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines