EUR/JPY – 1H – BUY

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

A bullish trend upwards to the next resistance at 163.01500 is expected.

Caution: A possible trend reversal in the direction of the support level at 162.37800 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish signal. The pair is likely to go up.

Next a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which is a positive signal. The 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).

Next a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a positive chart signal. The pair is likely to go up.

163.01500 – 162.94800 – 164.63200 – 162.37800 – 161.59100 – 163.45200

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji