USD/JPY – 1H – BUY

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

A bullish ascent up to the next resistance line at 158.297 is likely expected.

Caution: A possible trend reversal in the direction of the support zone at 157.466 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘%K crosses above %D’ indicator signal is discovered. The indicator shows ‘%K crosses above %D’. which is often a bullish chart signal. The currency pair could go up.

Furthermore a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 158.532856 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 158.297 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ candlestick pattern is existing. The candles show ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

158.297 – 158.6 – 158.163 – 157.466 – 157.422 – 157.968 —
158.08600 – 158.21200 —
49.738432088003 – 54.039631111439 —
– —
158.29700 – 1768942800

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –