EUR/JPY – 1H – BUY

The combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards

The bullish trend upwards to the next resistance level at 183.087 will continue.

Caution: A possible reversal of the trend in the direction of the support line at could occur.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The pair is likely to go up.

In addition a ‘Bullish Engulfing’ candlestick pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.

183.087 – 183.123 – 183.223 – 182.112 – 182.372 – 182.024 —
183.01800 – 182.87300 —
54.353137841048 – 55.700421678088 —
– —
183.087 – 1772722800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing – – – – – – – – –