Indicators and patterns
1/3/2025
Indicators and patterns
An Inverted Hammer is a bullish candlestick pattern that occurs during a downtrend. It is formed when the price opens, trades lower, but then closes near the opening price, resembling an upside-down hammer. This pattern suggests a potential reversal in the current downtrend, indicating that buyers are starting to step in.In this case, the Inverted Hammer pattern was identified on the USD/JPY currency pair on a 15-minute timeframe. The signal generated is bullish, suggesting a buy opportunity. The pattern occurred at a price of 157.2 on January 3, 2025, at 16:45 GMT. Traders may interpret this signal as a potential reversal in the downtrend of USD/JPY, with a possibility of prices moving higher in the near future.
This is not investment advice. Remember to verify the information provided here.
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