USD/JPY – 30M – BUYThe currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 159.68 will persist.
Caution: A possible trend reversal in the direction of the support level at 159.00300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Belt Hold’ candle chart pattern is existing. 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 chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 159.68 |
| Current Price | 159.65500 |
| Next Low | 159.00300 |
| 2nd Low | 158.566 |
| 3rd Low | 157.86 |
159.68 – 159.428 – 159.234 – 159.00300 – 159.008 – 158.566 —
159.28600 – 159.68100 —
38.842032503417 – 59.288550238991 —
159.00300 – 1773419400 —
159.68 – 1773387000
Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Belt Hold – – – – – – – – –