USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline downwards
A bearish trend down to the next support at 151.79600 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 154.47600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Tweezers Bottom’ candle pattern is detected. The candles show ‘Tweezers Bottom’. which 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 probability of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 155.02100 |
| 2nd High | 154.72000 |
| Next High | 154.47600 |
| Current Price | 153.67500 |
| Next Low | 151.79600 |
| 2nd Low | 151.00000 |
| 3rd Low | 150.89300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Tweezers Bottom