EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
An ascent upwards to the next resistance line at 184.031 is certain.
Caution: A possible trend reversal in the direction of the support level at 182.788 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle pattern is found. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.451 |
| 2nd High | 184.402 |
| Next High | 184.031 |
| Current Price | 183.83400 |
| Next Low | 182.788 |
| 2nd Low | 182.637 |
| 3rd Low | 182.282 |
184.031 – 184.402 – 184.451 – 182.788 – 182.637 – 182.282 —
183.94900 – 183.81100 —
45.586557861338 – 46.234338725175 —
– —
184.031 – 1777908600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –