EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.
A bearish trend downwards to the next support line at 161.38200 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 163.31300 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. 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 | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 163.31300 |
| Current Price | 162.35700 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers