USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 148.775 is considered certain.
Caution: A possible change in the direction of the support level at 146.659 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 148.775 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 148.775 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ chart pattern is detected. The chart forms ‘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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.775 |
| Current Price | 148.37700 |
| Next Low | 146.659 |
| 2nd Low | 146.573 |
| 3rd Low | 146.211 |
148.181 – 147.906 – 147.937 – 146.659 – 147.098 – 146.985 — 59.545849911626 – 61.147895232743 — 7.8439896904015 – 14.117732302373 – 17.863537198422 – 10.701903766021
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –