EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 163.933 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 163.93300 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. which is a positive chart scenario. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.51800 |
| 2nd High | 164.01600 |
| Next High | 163.93300 |
| Current Price | 163.42400 |
| Next Low | 162.37800 |
| 2nd Low | 161.59100 |
| 3rd Low | 161.15300 |
163.93300 – 163.01500 – 162.48500 – 162.37800 – 161.59100 – 162.37600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji