EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 173.053 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 172.504 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish chart signal. The currency pair is likely to rise.
And also a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.
And also a ‘Inverted Hammer’ candlestick pattern is found. The candles show ‘Inverted Hammer’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.906 |
| 2nd High | 173.653 |
| Next High | 173.053 |
| Current Price | 172.75300 |
| Next Low | 172.504 |
| 2nd Low | 172.307 |
| 3rd Low | 171.234 |
173.053 – 172.906 – 172.741 – 172.504 – 172.307 – 172.488 — 47.901824075674 – 51.536976397241 — 40.104519681351 – 34.204580073464 – 64.671233897091 – 48.556055593506
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Inverted Hammer – – –