EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance at 162.00700 is certain.
Caution: A possible counter-trend in the direction of the support line at 159.10300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish SBS White Lines’ candle pattern is discovered. The candles show ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.11200 |
| Next High | 162.00700 |
| Current Price | 161.17500 |
| Next Low | 159.10300 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines