USD/JPY – 1H – BUY

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

An ascending movement upwards to the next resistance level at 159.303 is considered certain.

Caution: A possible counter-trend in the direction of the support line at 158.26 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart scenario. The pair is likely to go up.

Besides a ‘StochRSI %K line crosses above %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses above %D line’. which could be a positive chart scenario. The pair is likely to go up.

Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 159.479344 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 159.303 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Up’ candlestick pattern is existing. The chart forms ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

159.303 – 159.151 – 159.856 – 158.26 – 158.643 – 158.599 —
159.44200 – 159.18600 —
64.389529868599 – 42.327765964417 —
– —
159.303 – 1776355200

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