USD/JPY – 30M – BUY

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

An ascending movement upwards to the next resistance line at 158.53 will persist.

Caution: A possible counter-trend in the direction of the support level at 157.745 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

158.53 – 158.254 – 158.297 – 157.745 – 157.855 – 157.466 —
158.41600 – 158.37500 —
59.706222820928 – 50.381678220766 —
– —
158.53000 – 1769031000

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