EUR/JPY – 1H – BUY

The pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline upwards

A continuation of the upward movement up to the next resistance line at 172.67500 will continue.

Caution: A possible change in the direction of the support level at 172.04900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.

Then a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair could go up.

Then a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

172.67500 – 172.21600 – 172.59800 – 172.04900 – 171.50100 – 170.96400 — 47.089191252192 – 49.099434971515 — 7.2244891577944 – 19.155542214622 – 26.866553430517 – 17.06593198375

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double top chart pattern – –