USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance level at is likely expected.
Caution: A possible counter-trend in the direction of support at 153.40300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candlestick chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. 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 | |
| 2nd High | |
| Next High | |
| Current Price | 155.59200 |
| Next Low | 153.40300 |
| 2nd Low | 152.13800 |
| 3rd Low | 151.28200 |