USD/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 160.34402 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance zone at 160.337 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Belt Hold’ candlestick pattern is discovered. The candles show ‘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 likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.593 |
| 2nd High | 160.372 |
| Next High | 160.337 |
| Current Price | 160.08700 |
| Next Low | 159.731 |
| 2nd Low | 159.538 |
| 3rd Low | 159.368 |
160.337 – 160.372 – 160.593 – 159.731 – 159.95 – 159.538 —
159.97300 – 160.14200 —
38.758001527108 – 47.263850732714 —
– —
160.337 – 1781281800
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold – – – – – – – – –