EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance level at 163.01500 will persist.
Caution: A possible change in the direction of the support zone at 162.37800 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The pair is likely to go up.
Moreover a ‘Northern Doji’ candle chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. 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 layout is discovered. The indicator is ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 164.63200 |
| Next High | 163.01500 |
| Current Price | 162.77000 |
| Next Low | 162.37800 |
| 2nd Low | 161.59100 |
| 3rd Low | 161.15300 |
163.01500 – 162.94800 – 164.63200 – 162.37800 – 161.59100 – 163.45200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji