USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) moves from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 147.96100 is likely expected.
Caution: A possible trend reversal in the direction of support at 142.67800 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle pattern is existing. The chart shows ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 148.64800 |
| 2nd High | 148.02500 |
| Next High | 147.96100 |
| Current Price | 147.94100 |
| Next Low | 142.67800 |
| 2nd Low | 142.52800 |
| 3rd Low | 142.37500 |
147.96100 – 148.02500 – 145.46400 – 142.67800 – 143.74900 – 144.32200 — 67.064345494545 – 68.843166331702 — 35.467011503543 – 47.805705972682 – 31.078033979724 – 36.669958175325
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –