USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance at 157.91300 is considered certain.
Caution: A possible change in the direction of support at 157.50300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 158.081 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 157.91300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ candle pattern is existing. The chart shows ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.91300 |
| Current Price | 157.79000 |
| Next Low | 157.50300 |
| 2nd Low | 157.05500 |
| 3rd Low | 156.88600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up