EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 162.00700 is certain.
Caution: A possible change in the direction of the support zone at 159.10300 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 161.549 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 162.00700 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.11200 |
| Next High | 162.00700 |
| Current Price | 161.87800 |
| Next Low | 159.10300 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers