USD/JPY – 1H – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 145.28700 is expected.
Caution: A possible change in the direction of the support level at 143.97200 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Belt Hold’ candlestick pattern is detected. The chart shows ‘Bullish Belt Hold’. which is a bullish 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’ 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 | 144.96000 |
| 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