USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 157.295 is likely expected.
Caution: A possible change in the direction of the support zone at 156.452 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 157.295 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 157.295 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 157.891 |
| 2nd High | 157.76 |
| Next High | 157.295 |
| Current Price | 157.39900 |
| Next Low | 156.452 |
| 2nd Low | 156.293 |
| 3rd Low | 156.16 |
157.069 – 156.953 – 156.803 – 156.452 – 156.293 – 156.16 —
156.98900 – 157.29200 —
53.129581922034 – 66.001179347195 —
– —
157.06900 – 1767888000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –