USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 147.641 will continue.
Caution: A possible counter-trend in the direction of the support line at 146.984 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. 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’ heading 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 | 147.85500 |
| Next Low | 146.984 |
| 2nd Low | 146.304 |
| 3rd Low | 146.211 |
147.641 – 147.583 – 147.57 – 146.984 – 147.244 – 146.304 — 58.769925335303 – 60.179787315042 — 11.35320589939 – 24.705550357201 – 13.106788232299 – 14.559713620183
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –