USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
An ascending movement up to the next resistance at 148.27600 is certain.
Caution: A possible change in the direction of the support line at is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.20700 |
| 2nd High | 150.48500 |
| Next High | 148.27600 |
| Current Price | 141.61300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
148.27600 – 148.14700 – 150.48500 – 141.61000 – 142.06300 – 144.54900
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up