USD/JPY – 1H – 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 level at 149.95200 is expected.
Caution: A possible change in the direction of the support zone at 148.60100 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candlestick chart pattern is existing. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.18000 |
| 2nd High | 150.14400 |
| Next High | 149.95200 |
| Current Price | 150.46000 |
| Next Low | 148.60100 |
| 2nd Low | 148.17400 |
| 3rd Low | 147.40900 |
149.95200 – 149.66000 – 150.14400 – 148.60100 – 148.17400 – 149.13700
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji