USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 158.163 will persist.
Caution: A possible counter-trend in the direction of the support level at 157.422 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.452 |
| 2nd High | 158.876 |
| Next High | 158.163 |
| Current Price | 158.16000 |
| Next Low | 157.422 |
| 2nd Low | 156.452 |
| 3rd Low | 156.293 |
158.163 – 158.876 – 159.452 – 157.422 – 157.968 – 158.1 —
157.94300 – 158.13900 —
46.372573013351 – 54.725739160925 —
– —
158.16300 – 1768820400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –