USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance level at 161.517 is certain.
Caution: A possible trend reversal in the direction of the support zone at 160.488 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish SBS White Lines’ candle pattern is existing. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.76 |
| 2nd High | 162.613 |
| Next High | 161.517 |
| Current Price | 161.11400 |
| Next Low | 160.488 |
| 2nd Low | 160.473 |
| 3rd Low | 160.113 |
161.517 – 162.613 – 162.76 – 160.488 – 160.918 – 160.629 —
160.92200 – 161.15200 —
32.257335112252 – 49.960327145106 —
– —
161.517 – 1783047600
Trading Signals: FOREX – USD – USD/JPY – JPY – Bearish SBS White Lines – – – – – – – – –