USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline upwards
A continuation of the upward movement up to the next resistance at 144.02700 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 143.22100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.20100 |
| 2nd High | 144.07800 |
| Next High | 144.02700 |
| Current Price | 143.73300 |
| Next Low | 143.22100 |
| 2nd Low | 142.27500 |
| 3rd Low | 141.52600 |
144.02700 – 143.84800 – 143.57400 – 143.22100 – 142.27500 – 141.52600
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji