USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 147.641 will persist.
Caution: A possible trend reversal in the direction of support at 147.244 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.574 |
| 2nd High | 147.877 |
| Next High | 147.641 |
| Current Price | 147.77400 |
| Next Low | 147.244 |
| 2nd Low | 146.304 |
| 3rd Low | 146.211 |
147.641 – 147.583 – 147.57 – 147.244 – 146.304 – 148.078 — 73.71929972268 – 73.936216935533 — 100 – 100 – 98.90615610476 – 100
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –