USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline downwards
A bearish trend downwards to the next support line at 156.88600 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 157.39000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ candle chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 157.39000 |
| Current Price | 157.32800 |
| Next Low | 156.88600 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers