USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 142.35400 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 143.30900 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.42200 |
| 2nd High | 144.27200 |
| Next High | 143.30900 |
| Current Price | 143.10300 |
| Next Low | 142.35400 |
| 2nd Low | 142.35100 |
| 3rd Low | 142.16000 |
143.30900 – 144.27200 – 144.23100 – 142.35400 – 142.35100 – 143.55400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji