USD/JPY – 1H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
A bullish ascent upwards to the next resistance level at 153.534 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 152.67700 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘StochRSI %K line crosses above %D line’ indicator layout is discovered. The indicator shows ‘StochRSI %K line crosses above %D line’. which is often a bullish chart scenario. The currency pair could go up.
Then a ‘MACD crosses above signal’ indicator layout is discovered. The indicator shows ‘MACD crosses above signal’. which is often a bullish chart scenario. The currency pair could go up.
Then a ‘StochRSI Hidden Bullish Divergence’ indicator layout is discovered. The indicator shows ‘StochRSI Hidden Bullish Divergence’. which is often a bullish chart scenario. The currency pair could go up.
Then a ‘Three Outside Up’ candlestick chart pattern is found. The chart forms ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 154.875 |
| 2nd High | 154.042 |
| Next High | 153.534 |
| Current Price | 153.50000 |
| Next Low | 152.67700 |
| 2nd Low | 152.093 |
| 3rd Low |
153.534 – 154.042 – 154.875 – 152.67700 – 152.093 – 153.301 —
153.51100 – 153.10300 —
40.088335251253 – 45.228335094705 —
152.67700 – 1769706000 —
153.53400 – 1769691600
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – – – – – – – – –