USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
An ascent upwards to the next resistance at 145.92000 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 142.35100 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish pattern signal. The 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 | 150.48500 |
| 2nd High | 148.27600 |
| Next High | 145.92000 |
| Current Price | 145.37300 |
| Next Low | 142.35100 |
| 2nd Low | 141.96400 |
| 3rd Low | 139.88400 |
145.92000 – 144.02700 – 148.27600 – 142.35100 – 141.96400 – 139.88400
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji