USD/JPY – 1H – BUY

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

A continuation of the upward movement upwards to the next resistance level at 159.223 is expected.

Caution: A possible trend reversal in the direction of the support line at 157.86 should be noted.
Consider stop-loss settings accordingly.

Additionally a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Current target is 158.899 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 159.223 should be noted.
Consider stop-loss settings accordingly.

Additionally a ‘Three Outside Up’ candlestick chart pattern is discovered. The candles form ‘Three Outside Up’. which is a positive pattern 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).

158.899 – 157.847 – 157.965 – 157.86 – 157.271 – 157.386 —
158.69300 – 158.91800 —
64.086543009068 – 63.145932760335 —
– —
158.899 – 1773036000

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