EUR/JPY – 30M – BUY

The combination Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline up.

A continuation of the upward movement upwards to the next resistance at 160.33800 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 159.36800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 160.064 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 160.33800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Three Outside Up’ candlestick chart pattern is discovered. The candles form ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

Download EUR/JPY Signal Image

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