USD/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 154.2775 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 153.664 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Belt Hold’ candle pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to rise. 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 | 154.651 |
| 2nd High | 153.755 |
| Next High | 153.664 |
| Current Price | 153.34100 |
| Next Low | 152.56400 |
| 2nd Low | 152.361 |
| 3rd Low | 152.265 |
153.664 – 153.755 – 154.651 – 152.56400 – 152.361 – 152.265 —
152.65300 – 153.24200 —
37.583608231564 – 55.630710613286 —
152.56400 – 1771200000 —
153.664 – 1770980400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold – – – – – – – – –