USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance at 157.77700 will continue.
Caution: A possible change in the direction of the support level at 156.63200 could happen.
Consider stop-loss settings accordingly.
Next a ‘Three Outside Up’ candlestick pattern is detected. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.77700 |
| Current Price | 157.61700 |
| Next Low | 156.63200 |
| 2nd Low | 156.43300 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up