USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
The bullish trend upwards to the next resistance at 148.182 is likely expected.
Caution: A possible change in the direction of support at 146.984 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The pair is likely to go up.
Furthermore a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘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 | 148.182 |
| Current Price | 147.94000 |
| Next Low | 146.984 |
| 2nd Low | 146.304 |
| 3rd Low | 142.678 |
148.182 – 148.181 – 148.775 – 146.984 – 146.304 – 146.814 — 65.51485446305 – 63.891898116226 — 100 – 98.397728723979 – 100 – 99.46590957466
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –