USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A descent down to the next support level at 157.05500 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 157.92300 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish pattern 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 157.58300 |
| Next Low | 157.05500 |
| 2nd Low | 156.88600 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers