EUR/JPY – 1H – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.

A bullish trend upwards to the next resistance at 183.123 is expected.

Caution: A possible reversal of the trend in the direction of the support zone at could occur.
Consider stop-loss settings accordingly.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.

In addition a ‘Three Outside Up’ candle pattern is existing. The chart forms ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

183.123 – 183.223 – 184.689 – 182.112 – 182.372 – 182.024 —
182.97400 – 182.76200 —
59.188753209692 – 49.000294503377 —
– —
183.123 – 1772629200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –