USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance level at 156.734 is certain.
Caution: A possible change in the direction of the support level at 155.651 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘%K crosses above %D’ indicator layout is discovered. The indicator is ‘%K crosses above %D’. which could be a positive chart signal. The currency pair is likely to rise.
In addition a ‘Latter Bottom’ chart pattern is discovered. The candles show ‘Latter Bottom’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.891 |
| 2nd High | 157.186 |
| Next High | 156.734 |
| Current Price | 156.13300 |
| Next Low | 155.651 |
| 2nd Low | 155.213 |
| 3rd Low | 154.813 |
156.734 – 157.186 – 157.891 – 155.651 – 156.197 – 155.213 —
156.47700 – 156.09800 —
53.206411322824 – 36.533779067631 —
– —
156.73400 – 1764172800
Trading Signals: FOREX – USD – USD/JPY – JPY – Latter Bottom – Double bottom retreat down – – – – – – – –