USD/JPY – 1H – BUY

There is also a ‘Double bottom chart pattern’ chart formation is discovered. The chart shows ‘Double bottom chart pattern’. which is a positive chart scenario. The currency pair is likely to rise.

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

A continuation of the bullish trend upwards to the next resistance line at 155.373 is certain.

Caution: A possible counter-trend in the direction of support at 153.615 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Northern Doji’ candle chart pattern is found. The candles form ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

155.373 – 154.761 – 154.742 – 154.813 – 153.615 – 153.663 —
155.21200 – 155.37800 —
48.300142004618 – 55.383441789347 —
– —
155.37300 – 1763431200

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – Double bottom chart pattern – – – –