EUR/JPY – 30M – BUY

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

A continuation of the uptrend upwards to the next resistance line at is likely expected.

Caution: A possible trend reversal in the direction of the support level at 166.02800 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Current target is 167.679 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a positive signal. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

167.67900 – 167.31300 – 167.05300 – 166.02800 – 166.32000 – 166.69900

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