USD/JPY – 1H – BUYIn addition a ‘Double bottom retreat down’ chart pattern is existing. The chart picture forms ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to fall.
The pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance at 145.76600 is considered certain.
Caution: A possible change in the direction of the support level at 145.11900 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition 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.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.27200 |
| 2nd High | 146.28400 |
| Next High | 145.76600 |
| Current Price | 145.73700 |
| Next Low | 145.11900 |
| 2nd Low | 144.32200 |
| 3rd Low | 143.64800 |
145.76600 – 145.43800 – 145.10900 – 145.11900 – 144.32200 – 144.36700