USD/JPY – 1H – BUY

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

A bullish trend upwards to the next resistance at 161.844 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 161.558 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘RSI Hidden Bullish Divergence’ indicator signal is found. The indicator is ‘RSI Hidden Bullish Divergence’. which is often a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The pair is likely to go up.

Furthermore a ‘Three Outside Up’ candle pattern is existing. The candles show ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

161.844 – 161.947 – 161.838 – 161.558 – 161.552 – 161.268 —
161.65300 – 161.74400 —
40.084258021306 – 48.061936732598 —
– —
161.844 – 1782446400

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