EUR/JPY – 4H – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 172.67000 is certain.
Caution: A possible counter-trend in the direction of the support zone at could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish signal. The currency pair is likely to rise.
Next a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 172.69800 |
| Next High | 172.67000 |
| Current Price | 171.81400 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
172.67000 – 172.69800 – 172.59800 – 171.11200 – 168.45600 – 167.90700 — 47.42409362799 – 48.767543111229 — 38.130567267999 – 47.962250224073 – 33.171900957736 – 40.258517971341
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –