USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the bullish trendline up.
A continuation of the uptrend up to the next resistance at 157.84800 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 157.17100 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is existing. The candles form ‘Bullish Belt Hold’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.08100 |
| 2nd High | 158.06800 |
| Next High | 157.84800 |
| Current Price | 157.30600 |
| Next Low | 157.17100 |
| 2nd Low | 156.63200 |
| 3rd Low | 156.43300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold