USD/JPY – 1H – SELLAlso there is a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart shows ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The currency pair is likely to go down.
The combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A descent downwards to the next support line at 146.814 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 148.776 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candlestick pattern is found. The candles show ‘Northern Doji’. which is a positive chart scenario. 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 | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.776 |
| Current Price | 148.13800 |
| Next Low | 146.814 |
| 2nd Low | 146.659 |
| 3rd Low | 146.573 |
148.776 – 148.181 – 147.906 – 146.814 – 147.787 – 146.659 — 59.7415469014 – 54.796330940121 — 96.049431120986 – 90.576284969541 – 95.392910928505 – 94.844148206234
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –