USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance line at 147.10700 is expected.
Caution: A possible trend reversal in the direction of the support zone at 146.76100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 147.42 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 147.10700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Northern Doji’ candlestick chart pattern is existing. 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 probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.18100 |
| 2nd High | 147.40000 |
| Next High | 147.10700 |
| Current Price | 147.15500 |
| Next Low | 146.76100 |
| 2nd Low | 146.65900 |
| 3rd Low | 146.57300 |
147.10700 – 147.40000 – 148.18100 – 146.76100 – 146.65900 – 146.80500 — 53.439312124721 – 59.906912196661 — 81.621804067167 – 92.191938795601 – 69.141844570078 – 79.319138563084
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –