EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 172.64800 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 172.04900 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a bullish pattern 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 172.64800 |
| Current Price | 172.56200 |
| Next Low | 172.04900 |
| 2nd Low | 171.50100 |
| 3rd Low | 170.96400 |
172.64800 – 172.21600 – 172.19800 – 172.04900 – 171.50100 – 170.96400 — 61.415793162918 – 61.612271887606 — 85.992884864166 – 80.187580853816 – 92.66781658761 – 86.063676872215
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –