USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 158.54900 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 157.57400 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The chart shows ‘Bearish SBS White Lines’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.07600 |
| Next Low | 157.57400 |
| 2nd Low | 157.37200 |
| 3rd Low | 156.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines