USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance level at 151.94800 will persist.
Caution: A possible change in the direction of the support level at 150.89300 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.02100 |
| 2nd High | 154.72000 |
| Next High | 151.94800 |
| Current Price | 152.12100 |
| Next Low | 150.89300 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up