USD/JPY – 1H – BUY

The currency pair US Dollar/Japanese Yen (USD/JPY) breaks through the bullish trendline upwards

A continuation of the upward movement upwards to the next resistance level at 159.134 is likely expected.

Caution: A possible counter-trend in the direction of the support zone at 158.72 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart signal. The pair is likely to go up.

Besides a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 159.491122 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance zone at 159.134 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Up’ candle pattern is detected. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The currency 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).

159.134 – 159.493 – 159.743 – 158.72 – 158.846 – 159.003 —
158.93100 – 159.10700 —
38.455904981639 – 50.139423904193 —
– —
159.134 – 1773802800

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