USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 148.775 will persist.
Caution: A possible counter-trend in the direction of the support zone at 146.659 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick chart pattern is existing. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.775 |
| Current Price | 148.49700 |
| Next Low | 146.659 |
| 2nd Low | 146.573 |
| 3rd Low | 146.211 |
148.181 – 147.906 – 147.937 – 146.659 – 147.098 – 146.985 — 58.554524512088 – 62.403711211017 — 12.481746515073 – 17.451322801965 – 15.793382108331 – 15.393611784171
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –