USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 148.77500 is expected.
Caution: A possible change in the direction of the support level at 146.57300 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘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 likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 148.77500 |
| Current Price | 147.43100 |
| Next Low | 146.57300 |
| 2nd Low | 142.67800 |
| 3rd Low | 142.52800 |
148.77500 – 148.11100 – 147.96100 – 146.57300 – 146.86700 – 142.67800 — 48.907939584511 – 48.982306921912 — 43.721806689344 – 53.514007456687 – 36.870100503331 – 42.750669138347
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –