USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline down.
A descent downwards to the next support at 141.96400 will persist.
Caution: A possible change in the direction of the resistance zone at 148.27600 could happen.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive signal. The currency pair could go up.
Next a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. 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).
Next a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bullish chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.20700 |
| 2nd High | 150.48500 |
| Next High | 148.27600 |
| Current Price | 144.85500 |
| Next Low | 141.96400 |
| 2nd Low | 139.88400 |
| 3rd Low |
144.02700 – 148.27600 – 148.14700 – 141.96400 – 139.88400 – 141.61000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji