USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A descending movement down to the next support level at 153.33100 is certain.
Caution: A possible change in the direction of the resistance line at 154.34100 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Engulfing’ candle chart pattern is detected. The chart forms ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.47600 |
| Next High | 154.34100 |
| Current Price | 154.00000 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing