EUR/JPY – 1H – BUYThe currency pair breaks through the bearish trendline up.
A bullish ascent up to the next resistance at 162.79500 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 159.85900 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 161.664 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 162.79500 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.90400 |
| 2nd High | 162.88900 |
| Next High | 162.79500 |
| Current Price | 161.69900 |
| Next Low | 159.85900 |
| 2nd Low | 159.22900 |
| 3rd Low | 159.04000 |