EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
An ascent up to the next resistance level at 183.685 will continue.
Caution: A possible change in the direction of the support line at should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Target of the current trend is 184.326 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 183.685 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 186.869 |
| Next High | 183.685 |
| Current Price | 183.36000 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
183.685 – 186.869 – 186.012 – 182.099 – 181.783 – 184.802 —
183.42900 – 182.95400 —
58.884269674513 – 43.052847475611 —
– —
183.68500 – 1769506200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –