USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) jumps from the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance at 157.934 will continue.
Caution: A possible counter-trend in the direction of the support level at 155.61100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Inverted Hammer’ candlestick pattern is existing. The candles show ‘Inverted Hammer’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 160.721 |
| Next High | 157.934 |
| Current Price | 156.30700 |
| Next Low | 155.61100 |
| 2nd Low | 155.036 |
| 3rd Low |
157.934 – 157.836 – 157.299 – 155.61100 – 155.036 – 157.541 —
155.98600 – 156.23200 —
30.880211655384 – 43.395108184063 —
155.61100 – 1778074200 —
157.934 – 1778029200
Trading Signals: FOREX – USD – USD/JPY – JPY – Inverted Hammer – – – – – – – – –