EUR/JPY – 1H – BUY

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

A bullish trend up to the next resistance at 183.739 is certain.

Caution: A possible counter-trend in the direction of the support level at 183.231 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. which is often a bullish signal. The pair is likely to go up.

Moreover a ‘Bullish Belt Hold’ candlestick chart pattern is detected. The chart forms ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

183.739 – 183.572 – 183.766 – 183.231 – 182.079 – 182.57 —
184.14900 – 183.76200 —
63.719588475176 – 47.642660799577 —
– —
183.73900 – 1769677200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Belt Hold – Head and Shoulder chart pattern – – – – – – – –