EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline down.
A descending movement downwards to the next support at 161.38200 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 163.31300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 162.69400 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers