USD/JPY – 4H – BUY

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

A continuation of the upward movement up to the next resistance level at 158.899 will persist.

Caution: A possible counter-trend in the direction of the support line at 157.271 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bullish Engulfing’ candle pattern is detected. The chart shows ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.

158.899 – 157.965 – 156.818 – 157.271 – 156.449 – 155.534 —
158.86100 – 159.42800 —
66.16018648185 – 69.343125882299 —
– —
158.899 – 1773028800

Trading Signals: FOREX – USD – USD/JPY – JPY – Bullish Engulfing – – – – – – – – –