EUR/JPY – 1H – BUY

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

A bullish movement upwards to the next resistance level at 172.36000 will persist.

Caution: A possible counter-trend in the direction of the support zone at 171.11200 could occur.
Consider stop-loss settings accordingly.

Then a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern 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’ heading up is 52% (Bull Market) & 51% (Bear Market).

172.36000 – 172.69800 – 172.67500 – 171.11200 – 171.99200 – 172.04900 — 61.443593567016 – 65.813422154079 — 70.515385348195 – 85.714013527675 – 66.219195436902 – 73.842685211648

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Triple bottom chart pattern – –