USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance level at 153.444 is certain.
Caution: A possible change in the direction of the support line at 152.265 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bullish Engulfing’. which 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 success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.631 |
| 2nd High | 154.651 |
| Next High | 153.444 |
| Current Price | 152.97900 |
| Next Low | 152.265 |
| 2nd Low | 152.093 |
| 3rd Low | 151.862 |
153.444 – 154.651 – 155.631 – 152.265 – 152.55 – 152.796 —
153.18800 – 152.98500 —
53.081451074445 – 46.792475506236 —
– —
153.444 – 1770861600
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – – – – – –