EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 180.85 is expected.
Caution: A possible counter-trend in the direction of the support level at 180.093 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. The 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 | 182.005 |
| 2nd High | 181.263 |
| Next High | 180.85 |
| Current Price | 180.94900 |
| Next Low | 180.093 |
| 2nd Low | 179.765 |
| 3rd Low | 179.598 |
180.85 – 181.263 – 182.005 – 180.093 – 179.765 – 179.773 —
180.56900 – 180.70200 —
48.858220769211 – 54.907591417678 —
– —
180.85000 – 1764079200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – – – – – – – –