USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance at 144.07800 will persist.
Caution: A possible change in the direction of the support level at 142.27500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Current target is 143.574 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 144.07800 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.27600 |
| 2nd High | 144.20100 |
| Next High | 144.07800 |
| Current Price | 143.73300 |
| Next Low | 142.27500 |
| 2nd Low | 139.88400 |
| 3rd Low |
143.57400 – 143.21600 – 141.17000 – 142.27500 – 139.88400 – 140.46900
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji