USD/JPY – 1H – BUY

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

A continuation of the uptrend upwards to the next resistance at 157.069 is likely expected.

Caution: A possible change in the direction of the support level at 156.452 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 157.295 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 157.069 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Northern Doji’ candle pattern is found. The candles form ‘Northern Doji’. which is a positive 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’ going up is 52% (Bull Market) & 51% (Bear Market).

157.069 – 156.953 – 156.803 – 156.452 – 156.293 – 156.16 —
156.90000 – 157.05500 —
53.215791704024 – 59.904847259244 —
– —
157.06900 – 1767888000

Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji – – – – – – – – –