EUR/JPY – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 163.1115 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 162.94800 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 164.63200 |
| Next High | 162.94800 |
| Current Price | 162.36400 |
| Next Low | 161.59100 |
| 2nd Low | 161.15300 |
| 3rd Low | 160.97900 |
162.94800 – 164.63200 – 162.64800 – 161.59100 – 163.45200 – 161.70300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji