USD/JPY – 30M – BUY

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

The bullish trend up to the next resistance line at 158.99 will persist.

Caution: A possible counter-trend in the direction of support at should always be considered.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive signal. The pair is likely to go up.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend will persist. Current target is 159.198 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the resistance level at 158.99 should always be considered.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Up’ candle pattern is found. The chart shows ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

158.99 – 158.919 – 159.072 – 158.549 – 158.726 – 157.591 —
158.98900 – 158.89800 —
59.639213541858 – 43.45465218272 —
– —
158.99 – 1776742200

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