EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance line at 162.11200 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 159.90400 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. which is a bullish pattern 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 161.92800 |
| Next Low | 159.90400 |
| 2nd Low | 158.69600 |
| 3rd Low | 158.36500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers