EUR/JPY – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 164.5495 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 164.02300 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish chart scenario. 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 White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.41800 |
| 2nd High | 164.65100 |
| Next High | 164.02300 |
| Current Price | 164.00900 |
| Next Low | 163.23800 |
| 2nd Low | 163.20300 |
| 3rd Low | 162.77200 |