USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance level at is expected.
Caution: A possible counter-trend in the direction of support at 161.528 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bullish signal. The currency pair could go up.
Furthermore a ‘Bearish Harami Cross’ candlestick pattern is found. The candles show ‘Bearish Harami Cross’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami Cross’ going down is 57% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 162.14300 |
| Next Low | 161.528 |
| 2nd Low | 159.538 |
| 3rd Low | 159.368 |
161.947 – 161.924 – 161.807 – 161.528 – 159.538 – 159.368 —
161.76600 – 161.97800 —
57.501327611457 – 65.839869280069 —
– —
161.947 – 1782388800
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish Harami Cross – – – – – – – – –