USD/JPY – 30M – BUY

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

The bullish trend upwards to the next resistance at 157.153 will continue.

Caution: A possible change in the direction of the support line at 156.507 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Target of the current trend is 156.9205 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 157.153 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three White Soldiers’ candle chart pattern is discovered. The chart forms ‘Three White Soldiers’. 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 likelyhood of ‘Three White Soldiers’ heading up is 82%.

157.153 – 157.092 – 157.334 – 156.776 – 156.507 – 156.527 —
157.54400 – 156.67800 —
60.60381751624 – 37.477818580318 —
– —
157.153 – 1770382800

Trading Signals: FOREX – USD – USD/JPY – JPY – Three White Soldiers – Double bottom retreat down – – – – – – – –