EUR/JPY – 30M – BUY

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

A bullish trend upwards to the next resistance level at 164.01600 is considered certain.

Caution: A possible counter-trend in the direction of the support level at 163.15600 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0-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 counter-trend in the direction of the resistance zone at 164.01600 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair is likely to rise.

163.63600 – 163.93300 – 163.01500 – 163.15600 – 162.37800 – 161.59100

Download EUR/JPY Signal Image

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