EUR/JPY – 30M – BUY

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

A continuation of the bullish trend upwards to the next resistance line at 169.80500 is certain.

Caution: A possible change in the direction of the support level at 168.62400 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.

Then a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The pair is likely to go up.

Then a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

169.80500 – 169.28400 – 169.20700 – 168.62400 – 168.74900 – 168.55300

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Inverse Head and Shoulder chart pattern