EUR/JPY – 4H – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 172.59800 will persist.
Caution: A possible counter-trend in the direction of the support level at 168.45600 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick pattern is detected. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 172.59800 |
| Current Price | 172.55800 |
| Next Low | 168.45600 |
| 2nd Low | 167.90700 |
| 3rd Low | 166.02800 |
172.59800 – 169.85900 – 169.71100 – 168.45600 – 167.90700 – 166.02800 — 64.135718904494 – 64.78336230008 — 56.722697730035 – 48.347316349229 – 53.035545168092 – 51.697495718416
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –