EUR/JPY – 1H – BUY

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

A continuation of the upward movement up to the next resistance level at 167.61300 will persist.

Caution: A possible change in the direction of the support level at 166.02800 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The pair is likely to go up.

Then a ‘Northern Doji’ candlestick pattern is detected. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

167.31300 – 167.05300 – 167.61300 – 166.02800 – 166.32000 – 166.69900

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