USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 157.84800 will continue.
Caution: A possible counter-trend in the direction of support at 156.01700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish SBS White Lines’ chart pattern is existing. The chart forms ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.84800 |
| Current Price | 157.82700 |
| Next Low | 156.01700 |
| 2nd Low | 153.15600 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines