EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance at 172.11600 is expected.
Caution: A possible counter-trend in the direction of the support zone at 171.50900 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 171.991 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 172.11600 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 172.67000 |
| 2nd High | 172.65900 |
| Next High | 172.11600 |
| Current Price | 171.73400 |
| Next Low | 171.50900 |
| 2nd Low | 171.32400 |
| 3rd Low | 171.32300 |
172.11600 – 172.00100 – 172.65900 – 171.50900 – 171.32400 – 171.32300 — 49.8409115878 – 54.279986646311 — 70.589081700193 – 83.625428069873 – 72.114305447639 – 73.344077047781
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –