EUR/JPY – 30M – BUY

The currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards

The bearish trend down to the next support at 157.86000 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 159.57100 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 159.571 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 159.57100 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Inside Up’ chart pattern is detected. The chart shows ‘Three Inside Up’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Up’ going up is 65% (Bull Market) & 63% (Bear Market).

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Inside Up