USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline down.
A bearish movement down to the next support at 156.88600 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 157.39000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bullish Harami’ candlestick chart pattern is discovered. The candles form ‘Bullish Harami’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 157.39000 |
| Current Price | 157.14700 |
| Next Low | 156.88600 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Harami