USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the descending trendline up.
The bullish trend upwards to the next resistance at 143.90000 is certain.
Caution: A possible counter-trend in the direction of the support line at 143.18200 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.46400 |
| 2nd High | 144.13900 |
| Next High | 143.90000 |
| Current Price | 143.48700 |
| Next Low | 143.18200 |
| 2nd Low | 142.77300 |
| 3rd Low | 142.52800 |
143.90000 – 144.13900 – 145.46400 – 143.18200 – 144.32200 – 144.65000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji