EUR/JPY – 30M – BUY

Furthermore a ‘Falling Wedge Chart Pattern’ chart layout is existing. The formation shows ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The currency pair is likely to go up.

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

A bullish movement up to the next resistance level at 167.58500 is certain.

Caution: A possible trend reversal in the direction of support at 166.02800 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

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

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Target of the current trend is 167.585 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of resistance at 167.58500 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ candlestick pattern is discovered. The chart forms ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

167.31300 – 167.05300 – 167.04700 – 166.02800 – 166.32000 – 166.69900

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