USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline up.
A continuation of the upward movement up to the next resistance line at 144.77000 is certain.
Caution: A possible trend reversal in the direction of support at 143.97200 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bullish Belt Hold’ candlestick pattern is found. The chart shows ‘Bullish Belt Hold’. which is a bullish pattern signal. The currency 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 | 145.08600 |
| 2nd High | 144.94500 |
| Next High | 144.77000 |
| Current Price | 144.93000 |
| Next Low | 143.97200 |
| 2nd Low | 143.41700 |
| 3rd Low | 142.77300 |
144.77000 – 144.94500 – 145.08600 – 143.97200 – 143.41700 – 142.77300
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold