USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
An ascending movement up to the next resistance at 157.84800 is considered certain.
Caution: A possible change in the direction of the support level at 156.87200 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candle pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish 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 | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.84800 |
| Current Price | 157.71100 |
| Next Low | 156.87200 |
| 2nd Low | 156.43300 |
| 3rd Low | 156.01700 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers