USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) goes from the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at 161.517 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 160.91800 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Engulfing’ candle chart pattern is detected. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.76 |
| 2nd High | 162.613 |
| Next High | 161.517 |
| Current Price | 161.16000 |
| Next Low | 160.91800 |
| 2nd Low | 160.629 |
| 3rd Low |
161.517 – 162.613 – 162.76 – 160.91800 – 160.629 – 162.29 —
161.27100 – 161.20500 —
43.499574116153 – 44.83006311705 —
160.91800 – 1783051200 —
161.517 – 1783047600
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – – – – – –