The combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 163.75200 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 162.12200 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candle chart pattern is existing. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 164.18100 |
2nd High | 164.17500 |
Next High | 163.75200 |
Current Price | 163.28500 |
Next Low | 162.12200 |
2nd Low | 161.85900 |
3rd Low | 161.83600 |
163.75200 – 163.14700 – 162.38300 – 162.12200 – 161.85900 – 161.83600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji