EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
An ascent up to the next resistance level at 162.48600 is certain.
Caution: A possible counter-trend in the direction of the support level at 160.98500 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 162.94189 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance level at 162.48600 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.92700 |
| 2nd High | 163.76900 |
| Next High | 162.48600 |
| Current Price | 161.96700 |
| Next Low | 160.98500 |
| 2nd Low | 159.90400 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers