USD/JPY – 30M – BUY

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

An ascending movement up to the next resistance at 160.227 is considered certain.

Caution: A possible change in the direction of the support line at could occur.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 160.34402 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 160.227 could occur.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Three Outside Up’ candle chart pattern is existing. The candles show ‘Three Outside Up’. which is a bullish signal. The 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).

160.227 – 160.337 – 160.372 – 159.731 – 159.95 – 159.538 —
160.12600 – 160.08200 —
52.231471504635 – 41.714380054217 —
– —
160.227 – 1781499600

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