USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
A bullish movement up to the next resistance at 157.84800 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 156.01700 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.84800 |
| Current Price | 157.86800 |
| Next Low | 156.01700 |
| 2nd Low | 153.15600 |
| 3rd Low | 149.35800 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers