USD/JPY – 4H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 156.176 will continue.
Caution: A possible change in the direction of the support level at 154.665 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish signal. 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 | 158.193 |
| 2nd High | 157.891 |
| Next High | 156.176 |
| Current Price | 155.13000 |
| Next Low | 154.665 |
| 2nd Low | 153.615 |
| 3rd Low | 152.815 |
156.176 – 157.891 – 154.482 – 154.665 – 155.651 – 156.197 —
155.63900 – 154.96100 —
41.448046078827 – 35.717072422602 —
– —
156.17600 – 1764691200
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –