EUR/JPY – 1H – BUY

The currency pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance level at 184.689 will persist.

Caution: A possible counter-trend in the direction of the support line at 183.403 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.

Besides a ‘Bearish SBS White Lines’ candle pattern is existing. The candles show ‘Bearish SBS White Lines’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

183.761 – 183.63 – 183.384 – 183.403 – 183.053 – 182.367 —
183.61600 – 184.00300 —
57.180753354068 – 57.015811233094 —
– —
183.761 – 1773151200

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines – Rising Wedge Chart Pattern – – – – – – – –