The combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance level at 162.451 is likely expected.
Caution: A possible change in the direction of the support level at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The currency pair could go up.
Next a ‘Bearish SBS White Lines’ chart pattern is detected. The chart shows ‘Bearish SBS White Lines’. this 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 SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.542 |
| 2nd High | 162.471 |
| Next High | 162.451 |
| Current Price | 162.40500 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
162.451 – 162.471 – 162.542 – 162.127 – 162.309 – 161.978 —
162.41600 – 162.44000 —
53.957854529104 – 48.891049148964 —
– —
162.451 – 1784291400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines – – – – – – – – –