USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 156.01700 will persist.
Caution: A possible change in the direction of resistance at 158.06800 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. 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 | 158.08100 |
| Next High | 158.06800 |
| Current Price | 157.36100 |
| Next Low | 156.01700 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.33100 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers