EUR/JPY – 1H – BUY

The pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.

The bullish trend upwards to the next resistance level at 164.89900 is expected.

Caution: A possible trend reversal in the direction of support at 161.38200 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 164.899 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance level at 164.89900 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three White Soldiers’ candle pattern is detected. The candles form ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers