EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
An ascent up to the next resistance level at 180.85 will persist.
Caution: A possible trend reversal in the direction of the support zone at 180.093 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 181.07700 |
| Next Low | 180.093 |
| 2nd Low | 179.765 |
| 3rd Low | 179.598 |
180.85 – 181.263 – 182.005 – 180.093 – 179.765 – 179.773 —
180.56200 – 180.97200 —
46.556219704755 – 64.489190733795 —
– —
180.85000 – 1764079200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –