USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
An ascending movement up to the next resistance line at 148.776 is certain.
Caution: A possible counter-trend in the direction of the support zone at 146.659 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bullish signal. The currency pair is likely to rise.
Then a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 151.207 |
| 2nd High | 150.485 |
| Next High | 148.776 |
| Current Price | 147.27100 |
| Next Low | 146.659 |
| 2nd Low | 146.573 |
| 3rd Low | 146.211 |
148.776 – 148.181 – 147.906 – 147.787 – 146.659 – 147.098 — 28.905670574974 – 33.803227152927 — 15.735014267055 – 34.777044870229 – 6.0358165875412 – 17.232758961689
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –