USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance level at 157.49100 will persist.
Caution: A possible trend reversal in the direction of the support level at 156.87200 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.06800 |
| 2nd High | 157.84800 |
| Next High | 157.49100 |
| Current Price | 157.72100 |
| Next Low | 156.87200 |
| 2nd Low | 156.63200 |
| 3rd Low | 156.43300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers