USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 153.32100 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 154.34100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle pattern is existing. The candles form ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.48600 |
| 2nd High | 154.47600 |
| Next High | 154.34100 |
| Current Price | 153.27100 |
| Next Low | 153.32100 |
| 2nd Low | 151.79600 |
| 3rd Low | 151.00000 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Matching Low