EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 173.653 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 172.307 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 173.293572 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 173.653 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 173.653 |
| Current Price | 173.13000 |
| Next Low | 172.307 |
| 2nd Low | 172.13 |
| 3rd Low | 171.113 |
172.906 – 173.653 – 171.788 – 172.307 – 172.13 – 173.064 — 63.380468325249 – 65.795501802236 — 85.557149689144 – 85.557149689144 – 85.403353956294 – 85.557149689144
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –