EUR/JPY – 30M – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance line at 162.48600 is likely expected.

Caution: A possible reversal of the trend in the direction of the support line at 161.16000 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 likely expected. Current target is 162.203 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 162.48600 could occur.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Up’ candle chart pattern is found. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

Download EUR/JPY Signal Image

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