USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance level at 151.20700 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 148.17400 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair could go up.
Additionally a ‘Three Outside Up’ candle pattern is existing. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
Additionally a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which is often a bullish signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 151.30100 |
| Next High | 151.20700 |
| Current Price | 149.87600 |
| Next Low | 148.17400 |
| 2nd Low | 147.40900 |
| 3rd Low | 146.53700 |
151.20700 – 150.94000 – 150.14400 – 148.17400 – 147.40900 – 146.53700
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up