USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 157.84800 is expected.
Caution: A possible reversal of the trend in the direction of support at 156.01700 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candlestick chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. 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 | 157.84800 |
| Current Price | 157.71900 |
| Next Low | 156.01700 |
| 2nd Low | 153.15600 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers