EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 168.45600 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Northern Doji’ candlestick pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 170.15100 |
| Next Low | 168.45600 |
| 2nd Low | 167.90700 |
| 3rd Low | 166.02800 |
169.85900 – 169.71100 – 167.61300 – 168.45600 – 167.90700 – 166.02800 — 60.770532318403 – 60.693293750416
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Triple top chart pattern –