USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 148.181 is expected.
Caution: A possible change in the direction of the support line at 146.573 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 150.485 |
| 2nd High | 148.775 |
| Next High | 148.181 |
| Current Price | 148.49700 |
| Next Low | 146.573 |
| 2nd Low | 142.678 |
| 3rd Low | 142.528 |
148.181 – 148.775 – 148.111 – 146.573 – 146.867 – 142.678 — 62.044981091373 – 63.816364686622 — 76.480429402949 – 66.388663437289 – 88.142235854062 – 76.938456999825
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –