USD/JPY – 30M – BUYBesides a ‘Falling Wedge Chart Pattern’ chart pattern is discovered. The chart picture shows ‘Falling Wedge Chart Pattern’. which is a positive chart scenario. The currency pair is likely to go up.
The currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.
An ascent up to the next resistance line at 145.04400 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 144.44000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The pair is likely to go up.
Besides a ‘Northern Doji’ chart pattern is existing. The candles form ‘Northern Doji’. 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 ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 146.28400 |
| 2nd High | 145.28700 |
| Next High | 145.04400 |
| Current Price | 144.96500 |
| Next Low | 144.44000 |
| 2nd Low | 144.42200 |
| 3rd Low | 144.39900 |
145.04400 – 145.28700 – 144.77000 – 144.44000 – 144.42200 – 144.39900
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji