EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline up.
A continuation of the uptrend up to the next resistance at 162.46900 will persist.
Caution: A possible change in the direction of support at 160.65800 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candlestick pattern is existing. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. 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 | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 161.52000 |
| Next Low | 160.65800 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers