USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A descent down to the next support at 153.33100 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 154.47600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Line Strike – Bullish’ candle chart pattern is detected. The chart forms ‘Three Line Strike – Bullish’. 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 success rate of a ‘Three Line Strike – Bullish’ heading up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.72000 |
| 2nd High | 154.48600 |
| Next High | 154.47600 |
| Current Price | 154.35600 |
| Next Low | 153.33100 |
| 2nd Low | 153.15600 |
| 3rd Low | 151.79600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Line Strike – Bullish