EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 183.643 will continue.
Caution: A possible counter-trend in the direction of support at 182.70700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 183.5645 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 183.643 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.422 |
| 2nd High | 184.061 |
| Next High | 183.643 |
| Current Price | 183.20400 |
| Next Low | 182.70700 |
| 2nd Low | |
| 3rd Low |
183.643 – 184.061 – 184.422 – 182.70700 – 182.807 – 183.709 —
182.90200 – 183.03500 —
34.037425553643 – 44.890098687772 —
182.70700 – 1767776400 —
183.64300 – 1767664800
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Inverse Head and Shoulder chart pattern – – – – – – – –