USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 145.02100 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 144.36700 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 145.46400 |
| 2nd High | 145.10900 |
| Next High | 145.02100 |
| Current Price | 145.38300 |
| Next Low | 144.36700 |
| 2nd Low | 143.64800 |
| 3rd Low | 142.79100 |
145.02100 – 145.10900 – 144.75000 – 144.36700 – 144.39900 – 143.64800
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji