USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance line at 159.223 is expected.
Caution: A possible counter-trend in the direction of the support line at 155.302 could occur.
Consider stop-loss settings accordingly.
And also a ‘Bullish Engulfing’ candle chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 159.223 |
| Current Price | 156.65000 |
| Next Low | 155.302 |
| 2nd Low | 152.677 |
| 3rd Low | 152.093 |
156.079 – 155.784 – 155.509 – 155.302 – 152.677 – 152.093 —
156.38500 – 156.76000 —
75.043267768587 – 62.691341817958 —
– —
156.079 – 1770134400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – – – – – –