USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance line at 157.84800 will continue.
Caution: A possible trend reversal in the direction of the support zone at 156.23700 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candle chart pattern is existing. 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 158.08100 |
| Next High | 157.84800 |
| Current Price | 158.16900 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers