USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline up.
An ascending movement upwards to the next resistance level at 158.28200 will persist.
Caution: A possible reversal of the trend in the direction of support at 157.37200 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Up’ candlestick pattern is found. The chart shows ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.54900 |
| 2nd High | 158.51800 |
| Next High | 158.28200 |
| Current Price | 157.81800 |
| Next Low | 157.37200 |
| 2nd Low | 156.23700 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up