USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline down.
A bearish descent downwards to the next support line at 142.90100 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 145.92000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend will continue. Current target is 145.92 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance line at 145.92000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.48500 |
| 2nd High | 148.27600 |
| Next High | 145.92000 |
| Current Price | 145.72800 |
| Next Low | 142.90100 |
| 2nd Low | 142.35100 |
| 3rd Low | 141.96400 |
144.27200 – 145.92000 – 143.15200 – 142.90100 – 142.35100 – 143.53600
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers