Also there is a ‘Falling Wedge Chart Pattern’ chart formation is existing. The chart shows ‘Falling Wedge Chart Pattern’. which is a positive chart scenario. The pair is likely to go up.
The pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
The bullish trend up to the next resistance line at 145.46400 will continue.
Caution: A possible trend reversal in the direction of the support level at 144.39900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.
Also there is a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. 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 | 147.11900 |
2nd High | 146.28400 |
Next High | 145.46400 |
Current Price | 145.21800 |
Next Low | 144.39900 |
2nd Low | 143.64800 |
3rd Low | 142.79100 |
145.02100 – 145.10900 – 144.75000 – 144.39900 – 143.64800 – 143.97000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji