EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A descending movement down to the next support at 163.01700 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 164.89900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 163.6185 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 164.89900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 163.36400 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.33800 |