USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 159.223 is certain.
Caution: A possible trend reversal in the direction of the support level at 155.302 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ chart pattern is found. The chart shows ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.452 |
| Next High | 159.223 |
| Current Price | 157.00800 |
| Next Low | 155.302 |
| 2nd Low | 152.677 |
| 3rd Low | 152.093 |
156.079 – 155.784 – 155.509 – 155.302 – 152.677 – 152.093 —
156.94400 – 156.86700 —
72.104199342079 – 60.860195412178 —
– —
156.079 – 1770134400
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –