USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 157.51406 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 157.49100 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Belt Hold’ candlestick pattern is existing. The candles form ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.06800 |
| 2nd High | 157.84800 |
| Next High | 157.49100 |
| Current Price | 157.33700 |
| Next Low | 157.03600 |
| 2nd Low | 156.63200 |
| 3rd Low | 156.43300 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold