USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 149.95200 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 148.60100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Furthermore a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bullish 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 | 150.27600 |
| Next Low | 148.60100 |
| 2nd Low | 148.58400 |
| 3rd Low | 148.17400 |
149.95200 – 149.66000 – 148.95700 – 148.60100 – 148.58400 – 148.17400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji