EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at 163.75200 is likely expected.
Caution: A possible change in the direction of support at 162.12200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going 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