EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 162.38300 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 161.85900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 162.462 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 162.38300 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Northern Doji’ candle chart pattern is existing. The chart shows ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.46200 |
| 2nd High | 162.45900 |
| Next High | 162.38300 |
| Current Price | 162.73900 |
| Next Low | 161.85900 |
| 2nd Low | 161.83600 |
| 3rd Low | 161.15300 |
162.38300 – 162.45900 – 162.46200 – 161.85900 – 161.83600 – 161.15300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji