USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 153.15600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 158.08100 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candle pattern is discovered. The chart shows ‘Three White Soldiers’. which is a positive 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 | 158.08100 |
| Current Price | 157.36100 |
| Next Low | 153.15600 |
| 2nd Low | 149.35800 |
| 3rd Low | 148.64200 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers