EUR/JPY – 1H – BUY

The combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline upwards

A continuation of the bullish trend up to the next resistance level at is considered certain.

Caution: A possible trend reversal in the direction of the support zone at 164.62100 could happen.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is considered certain. Current target is 165.456 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at could happen.
Consider stop-loss settings accordingly.

Furthermore a ‘Northern Doji’ chart pattern is detected. The chart shows ‘Northern Doji’. 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

165.45600 – 165.28300 – 164.67000 – 164.62100 – 164.54900 – 162.87000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji