USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline down.
A descending movement downwards to the next support line at 156.88600 is considered certain.
Caution: A possible change in the direction of the resistance line at 157.39000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bullish Harami’ candle pattern is existing. The chart forms ‘Bullish Harami’. this 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 ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 157.92300 |
| Next High | 157.39000 |
| Current Price | 157.14700 |
| Next Low | 156.88600 |
| 2nd Low | 155.94900 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Harami