USD/JPY: Candlestick Analysis
USD/JPY, H4 (4-hour chart)
On the 4-hour chart, the “Bull Counterattack Line” candlestick pattern appeared at 153.23, followed by a price reversal to the upside. Additionally, the “Three White Soldiers” trend continuation pattern formed in the range of 154.30–155.84, indicating strengthening bullish momentum. Going forward, the price is likely to rise toward the key resistance level at 156.32. If this level is broken, long positions targeting 157.37–158.50 would be recommended. Conversely, if sellers take control at 156.32 and secure positions below the support level at 155.36, a drop to the 154.30–153.23 range is expected.
USD/JPY, D1 (Daily chart)
On the daily chart, a “Bull Flag” pattern has formed, followed by the “Bull Marubozu” candlestick pattern at 153.23, marking a breakout. After testing this level, the price reversed upwards, and the “Three White Soldiers” continuation pattern formed, signaling further upward movement. This uptrend is likely to continue towards the resistance level at 156.32, and if broken, further upward movement is expected to reach the levels of 157.37–158.50.
Support and Resistance Levels
- Support Levels: 155.36, 154.30, 153.23
- Resistance Levels: 156.32, 157.37, 158.50
Trading Tips
- Long Position: Enter above 156.32, targeting 157.37 and 158.50, with a stop loss at 155.84. Expected duration: 5-7 days.
- Short Position: Enter below 155.36, targeting 154.30 and 153.23, with a stop loss at 155.84.
Scenario
- Timeframe: Weekly
- Recommendation: BUY STOP
- Entry Point: 156.35
- Take Profit: 157.37, 158.50
- Stop Loss: 155.84
- Key Levels: 153.23, 154.30, 155.36, 156.32, 157.37, 158.50
Alternative Scenario
- Recommendation: SELL STOP
- Entry Point: 155.35
- Take Profit: 154.30, 153.23
- Stop Loss: 155.84
- Key Levels: 153.23, 154.30, 155.36, 156.32, 157.37, 158.50
