EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish movement down to the next support at 163.01700 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 163.62600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Meeting Lines’ candlestick chart pattern is existing. The chart shows ‘Bullish Meeting Lines’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.62600 |
| Current Price | 163.29300 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.50700 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Meeting Lines