USD/JPY – 30M – BUY

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

An ascending movement up to the next resistance at 160.337 is considered certain.

Caution: A possible counter-trend in the direction of the support level at 159.95 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘MACD crosses above signal’ indicator signal is detected. The indicator shows ‘MACD crosses above signal’. which could be a positive chart scenario. The currency pair could go up.

Moreover a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bullish signal. 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 160.34402 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 160.337 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart shows ‘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 probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

160.337 – 160.372 – 160.593 – 159.95 – 159.538 – 160.421 —
160.22700 – 159.95800 —
47.713883069097 – 37.780411623311 —
– —
160.337 – 1781281800

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