USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance level at 145.08100 will continue.
Caution: A possible change in the direction of the support level at 143.44100 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 147.14000 |
| 2nd High | 145.92000 |
| Next High | 145.08100 |
| Current Price | 145.45800 |
| 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 – Three White Soldiers