USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance line at 148.181 is expected.
Caution: A possible counter-trend in the direction of support at 146.573 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.485 |
| 2nd High | 148.775 |
| Next High | 148.181 |
| Current Price | 148.60200 |
| Next Low | 146.573 |
| 2nd Low | 142.678 |
| 3rd Low | 142.528 |
148.181 – 148.775 – 148.111 – 146.573 – 146.867 – 142.678 — 68.27273214897 – 69.961424127805 — 100 – 100 – 97.185893388653 – 98.592946694327
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –