EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 183.739 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 182.079 could occur.
Consider stop-loss settings accordingly.
And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart scenario. The currency pair could go up.
And also a ‘StochRSI %K line crosses above %D line’ indicator signal is detected. The indicator is ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The currency pair could go up.
And also a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
And also a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 186.869 |
| 2nd High | 183.766 |
| Next High | 183.739 |
| Current Price | 183.71800 |
| Next Low | 182.079 |
| 2nd Low | 181.783 |
| 3rd Low | 181.565 |
183.739 – 183.572 – 183.766 – 182.079 – 182.57 – 182.099 —
183.37800 – 183.65000 —
50.285114013783 – 59.674210431796 —
– —
183.73900 – 1769677200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom retreat down – – – – – – – –