EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance at 183.572 is certain.
Caution: A possible counter-trend in the direction of the support line at is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.
Next a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 186.869 |
| 2nd High | 183.766 |
| Next High | 183.572 |
| Current Price | 183.32300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
183.572 – 183.766 – 183.685 – 182.57 – 182.099 – 181.783 —
183.48300 – 183.44400 —
56.281123495297 – 53.887426576686 —
– —
183.57200 – 1769623200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –