EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A descending movement down to the next support at 162.84100 will continue.
Caution: A possible change in the direction of the resistance zone at 163.59300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Outside Up’ candlestick pattern is discovered. The candles show ‘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 chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.59300 |
| Current Price | 163.40700 |
| Next Low | 162.84100 |
| 2nd Low | 162.50700 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up