Then a ‘Falling Wedge Chart Pattern’ chart pattern is existing. The chart picture shows ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The currency pair is likely to go up.
The combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline up.
The bullish trend up to the next resistance line at 145.28700 is likely expected.
Caution: A possible change in the direction of the support level at 143.97200 could occur.
Consider stop-loss settings accordingly.
Then a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
Then a ‘Bullish Belt Hold’ chart pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 148.27200 |
2nd High | 146.28400 |
Next High | 145.28700 |
Current Price | 144.63100 |
Next Low | 143.97200 |
2nd Low | 142.52800 |
3rd Low | 142.37500 |
145.28700 – 144.77000 – 145.08600 – 143.97200 – 142.52800 – 143.67200
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold