USD/JPY – 1H – BUY

Besides a ‘Double bottom chart pattern’ chart formation is found. The formation shows ‘Double bottom chart pattern’. this is a bullish signal. The currency pair is likely to rise.

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

A continuation of the bullish trend up to the next resistance line at 158.202 is expected.

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

Besides a ‘%K crosses above %D’ indicator layout is detected. The indicator shows ‘%K crosses above %D’. which could be a positive signal. The currency pair is likely to rise.

Besides a ‘MACD crosses above signal’ indicator layout is detected. The indicator shows ‘MACD crosses above signal’. which could be a positive signal. The currency pair is likely to rise.

Besides a ‘Three Outside Up’ candle pattern is detected. The chart shows ‘Three Outside Up’. this 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).

158.202 – 157.069 – 156.953 – 157.514 – 156.452 – 156.293 —
158.15400 – 158.17500 —
62.161394135173 – 51.372703038029 —
– —
158.20200 – 1768183200

Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up – Double bottom chart pattern – – – – – – – –