USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline up.
A bullish ascent up to the next resistance at 155.539 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 155.01 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Belt Hold’ candle chart pattern is found. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 156.577 |
| 2nd High | 156.176 |
| Next High | 155.539 |
| Current Price | 154.90500 |
| Next Low | 155.01 |
| 2nd Low | 154.665 |
| 3rd Low | 153.615 |
155.539 – 156.176 – 156.577 – 155.01 – 154.665 – 156.092 —
155.34900 – 154.85500 —
43.859168754958 – 36.590959771584 —
– —
155.53900 – 1764824400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold – – – – – – – – –