EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance line at 183.23 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 183.5645 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 183.23 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.061 |
| 2nd High | 183.643 |
| Next High | 183.23 |
| Current Price | 183.19700 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
183.23 – 183.643 – 184.061 – 182.707 – 182.807 – 183.709 —
183.20500 – 183.10600 —
49.660980064344 – 50.802882720222 —
– —
183.23000 – 1767808800
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double top chart pattern – – – – – – – –