EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
A bearish trend down to the next support level at will persist.
Caution: A possible change in the direction of the resistance level at 162.63200 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish signal. The currency pair could go down.
Next a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.16800 |
| 2nd High | 162.80100 |
| Next High | 162.63200 |
| Current Price | 161.81300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
162.63200 – 162.27700 – 162.80100 – 161.23900 – 161.49400 – 161.28900
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji