USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline down.
A bearish movement down to the next support level at 156.88600 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 157.39000 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Bullish Harami’ candle pattern is discovered. The chart shows ‘Bullish Harami’. which is a bullish 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 ‘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