USD/JPY – 1H – BUY

The combination US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline up.

A bullish movement upwards to the next resistance at 145.08600 will persist.

Caution: A possible reversal of the trend in the direction of support at 143.97200 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair could go up.

Moreover a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 145.086 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 145.08600 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

144.77000 – 145.08600 – 143.97200 – 143.97200 – 142.52800 – 143.67200

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji