EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
A bullish movement up to the next resistance line at 157.98100 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 156.97900 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Line Strike – Bullish’ candlestick chart pattern is discovered. The candles show ‘Three Line Strike – Bullish’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.89000 |
| 2nd High | 158.63300 |
| Next High | 157.98100 |
| Current Price | 158.18900 |
| Next Low | 156.97900 |
| 2nd Low | 156.17400 |
| 3rd Low | 156.04200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Line Strike – Bullish