EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 173.653 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 172.504 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 173.906 |
| Next High | 173.653 |
| Current Price | 173.66500 |
| Next Low | 172.504 |
| 2nd Low | 172.307 |
| 3rd Low | 171.234 |
173.492 – 173.447 – 173.442 – 172.504 – 172.307 – 172.488 — 66.656549659439 – 67.815325501828 — 84.859969645183 – 83.896237723045 – 89.155818826331 – 85.253069050192
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –