USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance level at 159.223 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 155.302 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candle chart pattern is discovered. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 159.223 |
| Current Price | 156.46300 |
| Next Low | 155.302 |
| 2nd Low | 152.677 |
| 3rd Low | 152.093 |
156.079 – 155.784 – 155.509 – 155.302 – 152.677 – 152.093 —
155.85300 – 156.38500 —
60.691926537372 – 75.043267426094 —
– —
156.079 – 1770134400
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –