USD/JPY – 30M – BUY

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 161.7335 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 162.613 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Outside Up’ candle chart pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. 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).

162.613 – 162.76 – 162.838 – 160.629 – 162.29 – 162.477 —
161.07700 – 161.08600 —
31.455915224997 – 39.117051825279 —
– —
162.613 – 1782948600

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