USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance level at 161.517 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 160.488 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ chart pattern is found. The chart shows ‘Three White Soldiers’. which is a positive 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.76 |
| 2nd High | 162.613 |
| Next High | 161.517 |
| Current Price | 161.20700 |
| Next Low | 160.488 |
| 2nd Low | 160.473 |
| 3rd Low | 160.113 |
161.517 – 162.613 – 162.76 – 160.488 – 160.918 – 160.629 —
161.03400 – 161.15100 —
47.533688891088 – 51.980610395619 —
– —
161.517 – 1783047600
Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – – – – – – – – –