USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 153.78200 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 153.33100 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Separating Lines’ candlestick pattern is discovered. The chart forms ‘Bullish Separating Lines’. 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 Separating Lines’ heading up is 72% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.47600 |
| 2nd High | 154.34100 |
| Next High | 153.78200 |
| Current Price | 154.67900 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Separating Lines