USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance at 156.803 is likely expected.
Caution: A possible change in the direction of the support level at 156.29300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish signal. The currency pair is likely to rise.
Moreover a ‘RSI Hidden Bullish Divergence’ indicator signal is found. The indicator shows ‘RSI Hidden Bullish Divergence’. which is often a bullish signal. The currency pair is likely to rise.
Moreover a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.
Moreover a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. this 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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.76 |
| 2nd High | 157.295 |
| Next High | 156.803 |
| Current Price | 156.73000 |
| Next Low | 156.29300 |
| 2nd Low | 156.16 |
| 3rd Low | 156.112 |
156.803 – 157.295 – 156.998 – 156.29300 – 156.16 – 156.112 —
156.51200 – 156.55000 —
46.79607497756 – 43.013075234408 —
156.29300 – 1767776400 —
156.80300 – 1767751200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –