EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 160.89500 is expected.
Caution: A possible change in the direction of resistance at 164.54500 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bullish Belt Hold’ candle chart pattern is discovered. The candles show ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.54500 |
| Current Price | 162.71500 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Belt Hold