USD/JPY – 30M – BUYAlso there is a ‘Double top retreat up’ chart pattern is discovered. The chart shows ‘Double top retreat up’. this is a bullish pattern signal. The pair is likely to go up.
The currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the descending trendline upwards
The bullish trend upwards to the next resistance at 143.93100 will persist.
Caution: A possible counter-trend in the direction of the support level at 142.79100 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.94500 |
| 2nd High | 144.50800 |
| Next High | 143.93100 |
| Current Price | 143.43700 |
| Next Low | 142.79100 |
| 2nd Low | 142.77300 |
| 3rd Low | 142.52800 |
143.93100 – 144.50800 – 144.94500 – 143.43600 – 143.77800 – 144.17200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Double top retreat up