USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
An ascending movement up to the next resistance at 157.77700 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 156.43300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. this is a bullish pattern 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 | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.77700 |
| Current Price | 157.65900 |
| Next Low | 156.43300 |
| 2nd Low | 156.01700 |
| 3rd Low | 155.94900 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers