EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
The bullish trend up to the next resistance level at 161.48000 is certain.
Caution: A possible trend reversal in the direction of support at 161.02900 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candle pattern is detected. The chart shows ‘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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.41800 |
| Next Low | 161.02900 |
| 2nd Low | 160.76900 |
| 3rd Low | 160.65800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers