EUR/JPY – 1H – BUYThe currency pair breaks through the descending trendline upwards
A bullish trend up to the next resistance line at 164.02300 will continue.
Caution: A possible trend reversal in the direction of the support level at 163.23800 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candle pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 164.65100 |
| Next High | 164.02300 |
| Current Price | 164.26100 |
| Next Low | 163.23800 |
| 2nd Low | 163.20300 |
| 3rd Low | 162.77200 |