USD/JPY – 30M – BUY

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

A bullish movement up to the next resistance at 160.028 is certain.

Caution: A possible counter-trend in the direction of the support zone at 157.884 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Up’ candle pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

158.95 – 158.794 – 158.534 – 157.884 – 158.047 – 159.466 —
159.09700 – 158.76800 —
61.455183813898 – 41.21929722847 —
– —
158.95 – 1775707200

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