USD/JPY – 30M – BUY

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

A continuation of the bullish trend upwards to the next resistance line at 159.995 is considered certain.

Caution: A possible change in the direction of the support line at 159.368 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. 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 considered certain. Current target is 159.995 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 159.995 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Up’ candle pattern is existing. The chart shows ‘Three Outside Up’. which is a positive pattern signal. 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).

159.995 – 159.993 – 159.984 – 159.368 – 159.813 – 159.652 —
159.95600 – 160.03300 —
57.837906597558 – 58.710993718204 —
– —
159.995 – 1780480800

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