USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline down.
A bearish trend downwards to the next support line at 153.15600 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 154.72000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Line Strike – Bullish’ chart pattern is existing. The candles form ‘Three Line Strike – Bullish’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.02100 |
| Next High | 154.72000 |
| Current Price | 154.65000 |
| Next Low | 153.15600 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Line Strike – Bullish