EUR/JPY – 1H – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline upwards

A continuation of the uptrend up to the next resistance level at 172.67500 will persist.

Caution: A possible counter-trend in the direction of the support zone at 172.04900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Northern Doji’ candle pattern is found. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

172.67500 – 172.21600 – 172.59800 – 172.04900 – 171.50100 – 170.96400 — 59.91065186316 – 60.653762122107 — 52.771671611774 – 59.170032895552 – 51.517739978887 – 53.601173258464

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