USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 159.653 is likely expected.
Caution: A possible change in the direction of support at 157.504 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart forms ‘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 chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 159.895 |
| Next High | 159.653 |
| Current Price | 160.40200 |
| Next Low | 157.504 |
| 2nd Low | 157.271 |
| 3rd Low | 156.449 |
159.653 – 159.895 – 159.743 – 157.504 – 157.271 – 156.449 —
159.69500 – 160.29400 —
62.183570717716 – 68.570923314313 —
– —
159.653 – 1774252800
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –