USD/JPY – 1H – BUY

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

A bullish movement upwards to the next resistance line at 158.876 will continue.

Caution: A possible counter-trend in the direction of the support line at 157.514 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘%K crosses above %D’ indicator layout is found. The indicator is ‘%K crosses above %D’. which is often a bullish chart signal. The pair is likely to go up.

Besides a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 157.971368 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 158.876 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

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

158.876 – 159.452 – 158.202 – 157.968 – 158.1 – 158.578 —
158.15800 – 157.87300 —
44.7743321491 – 26.617035394509 —
– —
158.87600 – 1768492800

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –