The currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance at 157.891 will persist.
Caution: A possible trend reversal in the direction of the support zone at 156.197 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candle chart pattern is found. 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.875 |
| 2nd High | 158.193 |
| Next High | 157.891 |
| Current Price | 156.84000 |
| Next Low | 156.197 |
| 2nd Low | 155.213 |
| 3rd Low | 154.813 |
157.891 – 155.728 – 155.373 – 156.197 – 155.213 – 154.813 —
156.57200 – 156.58700 —
38.030374204403 – 43.20333740641 —
– —
157.89100 – 1763658000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –