USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 157.37200 is expected.
Caution: A possible change in the direction of the resistance zone at 158.54900 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ candle pattern is found. The candles form ‘Three White Soldiers’. which 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 | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.01000 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers