USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline up.
A continuation of the uptrend up to the next resistance at 157.84800 is expected.
Caution: A possible trend reversal in the direction of the support line at 156.63200 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles show ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.84800 |
| Current Price | 157.27000 |
| Next Low | 156.63200 |
| 2nd Low | 156.43300 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines