USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.
The bearish trend downwards to the next support level at 155.94900 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 157.92300 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle pattern is existing. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 156.82300 |
| Next Low | 155.94900 |
| 2nd Low | 153.33100 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers