USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
An ascending movement up to the next resistance at 150.69700 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 149.35800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ chart pattern is existing. The candles show ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.22600 |
| 2nd High | 150.77000 |
| Next High | 150.69700 |
| Current Price | 150.06300 |
| Next Low | 149.35800 |
| 2nd Low | 148.64200 |
| 3rd Low | 148.39700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers