USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 148.02500 is certain.
Caution: A possible change in the direction of the support level at 143.74900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a positive 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 148.64800 |
| Next High | 148.02500 |
| Current Price | 144.18100 |
| Next Low | 143.74900 |
| 2nd Low | 142.79100 |
| 3rd Low | 142.52800 |
148.02500 – 145.46400 – 144.39000 – 143.74900 – 144.32200 – 142.79100
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji –