EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance at 164.38800 is likely expected.
Caution: A possible change in the direction of support at 162.60100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candle chart pattern is found. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.38800 |
| Current Price | 164.49300 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers