USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 144.27200 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 142.82600 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candlestick chart pattern is existing. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.08100 |
| 2nd High | 144.42200 |
| Next High | 144.27200 |
| Current Price | 143.89300 |
| Next Low | 142.82600 |
| 2nd Low | 142.35400 |
| 3rd Low | 142.35100 |
143.45200 – 143.30900 – 144.27200 – 142.82600 – 142.35400 – 142.35100
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji