USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 155.94900 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 156.68800 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Matching Low’ candle pattern is found. The chart shows ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 156.68800 |
| Current Price | 156.57000 |
| Next Low | 155.94900 |
| 2nd Low | 153.33100 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low