USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance level at 157.39000 is expected.
Caution: A possible trend reversal in the direction of the support zone at 156.88600 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish SBS White Lines’ candle chart pattern is detected. The chart shows ‘Bearish SBS White Lines’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 157.39000 |
| Current Price | 157.31900 |
| Next Low | 156.88600 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines