EUR/JPY – 30M – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards

The bullish trend upwards to the next resistance at 164.01600 will continue.

Caution: A possible trend reversal in the direction of the support line at 162.37800 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 163.49705 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance zone at 164.01600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. 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).

163.01500 – 162.48500 – 162.94800 – 162.37800 – 161.59100 – 162.37600

Download EUR/JPY Signal Image

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