EUR/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 163.138636 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 162.54000 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Then a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bullish chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.17500 |
| 2nd High | 163.75200 |
| Next High | 162.54000 |
| Current Price | 162.58500 |
| Next Low | 161.71200 |
| 2nd Low | 161.15300 |
| 3rd Low | 160.97900 |
162.54000 – 163.75200 – 162.45900 – 161.71200 – 162.01900 – 161.83600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji