USD/JPY – 30M – BUY

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

A continuation of the upward movement upwards to the next resistance at 159.528 is certain.

Caution: A possible reversal of the trend in the direction of the support level at 159.011 could happen.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Up’ candlestick chart pattern is found. The chart shows ‘Three Outside Up’. 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 ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

159.253 – 158.99 – 158.919 – 159.011 – 158.791 – 158.549 —
159.49100 – 159.40400 —
63.03271607676 – 54.082108505884 —
– —
159.253 – 1776772800

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