USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 143.99700 is certain.
Caution: A possible counter-trend in the direction of support at 143.44100 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 144.42200 |
| 2nd High | 144.27200 |
| Next High | 143.99700 |
| Current Price | 144.44600 |
| Next Low | 143.44100 |
| 2nd Low | 142.90100 |
| 3rd Low | 142.82600 |
143.99700 – 143.45200 – 143.30900 – 143.44100 – 142.90100 – 142.82600
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji