USD/JPY – 4H – BUYFurthermore a ‘Bullish Engulfing’ candle pattern is found. The chart forms ‘Bullish Engulfing’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 157.29700 |
| Next Low | 153.15600 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing