USD/JPY – 4H – BUY

The combination US Dollar/Japanese Yen (USD/JPY) breaks through the descending trendline upwards

A bullish movement upwards to the next resistance line at 159.856 is likely expected.

Caution: A possible counter-trend in the direction of support at 157.591 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The currency pair could go up.

There is also a ‘Three Outside Up’ chart pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

159.528 – 159.856 – 160.028 – 157.591 – 157.884 – 158.271 —
159.63600 – 159.68300 —
57.409694505877 – 54.415555905024 —
– —
159.528 – 1776412800

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