USD/JPY – 1H – BUY

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

A bullish trend up to the next resistance line at 158.6 is certain.

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

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Next a ‘%K crosses above %D’ indicator layout is discovered. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Next a ‘MACD crosses above signal’ indicator layout is discovered. The indicator shows ‘MACD crosses above signal’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 158.437 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 158.6 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

158.6 – 158.163 – 158.876 – 157.422 – 157.968 – 158.1 —
157.81300 – 158.07100 —
40.062159016961 – 47.061503877802 —
– —
158.60000 – 1768899600

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