USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance level at 156.798 is expected.
Caution: A possible trend reversal in the direction of the support line at 156.361 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.
Then a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency 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 | 157.295 |
| 2nd High | 156.803 |
| Next High | 156.798 |
| Current Price | 156.78600 |
| Next Low | 156.361 |
| 2nd Low | 156.293 |
| 3rd Low | 156.16 |
156.798 – 156.803 – 156.746 – 156.361 – 156.293 – 156.16 —
156.78300 – 156.75200 —
63.078938770929 – 53.567315409873 —
– —
156.79800 – 1767808800
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –