EUR/JPY – 1H – BUY

Moreover a ‘Double top retreat up’ chart formation is discovered. The chart picture forms ‘Double top retreat up’. which is a positive chart scenario. The currency pair is likely to rise.

The combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline up.

A continuation of the upward movement upwards to the next resistance line at 166.74600 will continue.

Caution: A possible counter-trend in the direction of the support zone at 165.49200 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish signal. The pair is likely to go up.

Moreover a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bullish chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 166.227508 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 166.74600 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish 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).

166.74600 – 166.42200 – 165.45600 – 165.49200 – 165.37800 – 164.62100

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