USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance at 152.77200 is likely expected.
Caution: A possible change in the direction of the support zone at 151.79600 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 152.85300 |
| Next High | 152.77200 |
| Current Price | 153.74500 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers