USD/JPY – 4H – BUY

The pair US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards

A bullish ascent upwards to the next resistance line at 160.459 will persist.

Caution: A possible trend reversal in the direction of support at 158.271 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘StochRSI %K line crosses above %D line’ indicator layout is found. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The currency pair could go up.

Next a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend will persist. Current target is 160.459 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance line at 160.459 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ candle chart pattern is detected. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

160.459 – 159.653 – 159.895 – 158.271 – 157.504 – 157.271 —
159.74400 – 159.87700 —
54.519635996142 – 49.82756013968 —
– —
160.459 – 1774828800

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – – – – – – – – –