USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 148.77500 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 146.57300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 148.775 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 148.77500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | |
| 2nd High | |
| Next High | 148.77500 |
| Current Price | 147.72000 |
| Next Low | 146.57300 |
| 2nd Low | 142.67800 |
| 3rd Low | 142.52800 |
148.77500 – 148.11100 – 147.96100 – 146.57300 – 146.86700 – 142.67800 — 51.212341836866 – 53.190901838185 — 59.545905207492 – 83.955164269959 – 44.718768281243 – 62.385260575196
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –