EUR/JPY – 4H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline up.
A continuation of the bullish trend up to the next resistance line at is likely expected.
Caution: A possible change in the direction of the support line at 172.13 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart scenario. The currency pair is likely to rise.
Furthermore a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which could be a positive signal. The currency pair is likely to rise.
Furthermore a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 172.88300 |
| Next Low | 172.13 |
| 2nd Low | 171.112 |
| 3rd Low | 168.456 |
172.67 – 172.698 – 172.598 – 172.13 – 172.451 – 171.112 — 53.727536203825 – 53.933526177643 — 40.250377932376 – 70.807318084571 – 20.409951484399 – 40.654467076275
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom retreat down – –