USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance at 158.54900 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 156.23700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.54900 |
| Current Price | 158.38200 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers