USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance line at 156.245 will persist.
Caution: A possible change in the direction of the support level at 155.213 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.749 |
| 2nd High | 156.576 |
| Next High | 156.245 |
| Current Price | 156.18100 |
| Next Low | 155.213 |
| 2nd Low | 155.047 |
| 3rd Low | 154.813 |
155.728 – 155.373 – 155.302 – 155.213 – 155.047 – 154.813 —
155.52800 – 156.29400 —
56.989263105623 – 75.725068221498 —
– —
155.72800 – 1763496000
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – –