EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline upwards
A bullish ascent upwards to the next resistance level at 172.69800 is certain.
Caution: A possible change in the direction of the support zone at 171.50100 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 172.69800 |
| Current Price | 171.98400 |
| Next Low | 171.50100 |
| 2nd Low | 170.96400 |
| 3rd Low | 169.84900 |
172.69800 – 172.67500 – 172.21600 – 171.99200 – 172.04900 – 171.50100 — 41.095318635812 – 43.12784858224 — 25.079879009926 – 26.443147446002 – 18.702338857411 – 23.497919595564
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Triple top chart pattern – –