EUR/JPY – 1H – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.

An ascending movement upwards to the next resistance level at 187.361 is likely expected.

Caution: A possible reversal of the trend in the direction of the support zone at 186.987 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart signal. The currency pair is likely to rise.

Besides a ‘MACD crosses above signal’ indicator layout is found. The indicator is ‘MACD crosses above signal’. which could be a positive chart signal. The currency pair is likely to rise.

Besides a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 187.555532 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 187.361 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

187.361 – 187.329 – 187.948 – 186.987 – 186.285 – 187.096 —
187.21100 – 187.12300 —
51.71750522526 – 40.310801441602 —
– —
187.361 – 1776798000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –