USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
The bullish trend up to the next resistance level at 154.69800 is considered certain.
Caution: A possible trend reversal in the direction of the support zone at 153.96400 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 154.894 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 154.69800 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candle chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.88500 |
| 2nd High | 155.26200 |
| Next High | 154.69800 |
| Current Price | 154.56900 |
| Next Low | 153.96400 |
| 2nd Low | 153.90300 |
| 3rd Low | 153.27500 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers