USD/JPY – 30M – BUY

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

The bullish trend up to the next resistance at 161.517 is considered certain.

Caution: A possible trend reversal in the direction of the support level at 160.488 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Three Outside Up’ candle pattern is existing. The candles show ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

161.517 – 162.613 – 162.76 – 160.488 – 160.918 – 160.629 —
161.15700 – 161.33900 —
51.186866666924 – 59.302430724275 —
– —
161.517 – 1783047600

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