USD/JPY – 1H – BUYThe combination US Dollar/Japanese Yen (USD/JPY) goes from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance level at 145.92000 is certain.
Caution: A possible trend reversal in the direction of the support level at 143.53600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Belt Hold’ candle pattern is detected. The candles form ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to go up. 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 | 150.48500 |
| 2nd High | 148.27600 |
| Next High | 145.92000 |
| Current Price | 144.00000 |
| Next Low | 143.53600 |
| 2nd Low | 141.96400 |
| 3rd Low | 139.88400 |
145.92000 – 143.15200 – 142.75600 – 143.53600 – 143.72700 – 141.96400
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold