USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 160.721 is expected.
Caution: A possible change in the direction of the support level at 159.368 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 160.721 |
| Current Price | 160.07900 |
| Next Low | 159.368 |
| 2nd Low | 159.096 |
| 3rd Low | 158.812 |
159.759 – 159.372 – 159.651 – 159.368 – 159.096 – 159.115 —
159.83600 – 160.05800 —
50.971933200985 – 62.285243243149 —
– —
159.759 – 1780333200
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – – – – – – – – –