USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 148.574 is expected.
Caution: A possible counter-trend in the direction of the support line at 147.46200 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. which is a positive signal. The pair is likely to go up. 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 | 150.485 |
| 2nd High | 148.776 |
| Next High | 148.574 |
| Current Price | 147.72900 |
| Next Low | 147.46200 |
| 2nd Low | 146.814 |
| 3rd Low | 146.659 |
148.574 – 148.776 – 148.181 – 147.46200 – 146.814 – 147.787 — 45.893137844634 – 47.362206859788 — 29.229937270171 – 31.107486308342 – 27.229476303012 – 28.329342782759
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – –