EUR/JPY – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 184.939482 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance zone at 184.63 could happen.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a positive 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 185.568 |
| Next High | 184.63 |
| Current Price | 184.08400 |
| Next Low | 182.631 |
| 2nd Low | 182.196 |
| 3rd Low | 181.565 |
184.63 – 185.568 – 185.534 – 184.174 – 184.257 – 182.631 —
184.35300 – 184.12600 —
41.002542842849 – 40.265156467286 —
– —
184.63000 – 1768471200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – – – – – – – –