USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
An ascent upwards to the next resistance at 150.23500 will continue.
Caution: A possible reversal of the trend in the direction of support at 148.64200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ candle chart pattern is found. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. 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 White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.94800 |
| 2nd High | 150.74700 |
| Next High | 150.23500 |
| Current Price | 150.09500 |
| Next Low | 148.64200 |
| 2nd Low | 148.39700 |
| 3rd Low | 148.23700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers