EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.
An ascending movement up to the next resistance level at 160.12300 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 159.24900 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.70500 |
| Next High | 160.12300 |
| Current Price | 159.91800 |
| Next Low | 159.24900 |
| 2nd Low | 159.09000 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers