EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
The bearish trend downwards to the next support at 156.17400 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 158.65400 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Tri-Star’ candlestick chart pattern is existing. The chart shows ‘Bullish Tri-Star’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 158.89000 |
| Next High | 158.65400 |
| Current Price | 158.24900 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Tri-Star