EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish movement downwards to the next support at 158.64400 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 164.75300 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candle pattern is detected. The candles show ‘Three White Soldiers’. 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 success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 161.40100 |
| Next Low | 158.64400 |
| 2nd Low | 157.86000 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers