USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline down.
A continuation of the downward movement down to the next support level at 153.15600 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 157.92300 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 157.92300 |
| Current Price | 157.13600 |
| Next Low | 153.15600 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers