USD/JPY – 4H – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 156.23700 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 158.081 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Belt Hold’ chart pattern is found. The candles show ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 158.50500 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold