USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 156.176 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 156.176 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Belt Hold’ candlestick pattern is found. The candles form ‘Bullish Belt Hold’. this is a bullish chart scenario. The 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 | 156.734 |
| 2nd High | 156.577 |
| Next High | 156.176 |
| Current Price | 155.90700 |
| Next Low | 154.899 |
| 2nd Low | 154.34 |
| 3rd Low | 153.615 |
155.491 – 155.226 – 155.539 – 154.899 – 154.34 – 154.506 —
155.53000 – 155.92400 —
64.520066322077 – 65.119176367027 —
– —
155.49100 – 1764957600
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold – – – – – – – – –