USD/JPY – 4H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 156.23700 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 158.08100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Belt Hold’ candlestick pattern is discovered. The candles form ‘Bullish Belt Hold’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 158.08100 |
| Current Price | 158.01000 |
| Next Low | 156.23700 |
| 2nd Low | 156.01700 |
| 3rd Low | 153.15600 |
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold