USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 158.08100 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 157.50300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candle chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish 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 | 158.08100 |
| Current Price | 157.93900 |
| Next Low | 157.50300 |
| 2nd Low | 157.05500 |
| 3rd Low | 156.88600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers