USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance line at 158.087 will continue.
Caution: A possible counter-trend in the direction of the support zone at 157.386 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.452 |
| 2nd High | 159.223 |
| Next High | 158.087 |
| Current Price | 158.64500 |
| Next Low | 157.386 |
| 2nd Low | 157.375 |
| 3rd Low | 156.898 |
158.087 – 157.899 – 157.847 – 157.386 – 157.375 – 156.898 —
157.90900 – 158.44100 —
51.945691665862 – 71.19946555695 —
– —
158.087 – 1772812800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –