EUR/JPY – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend will persist. Target of the current trend is 165.029 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of resistance at 165.02900 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candlestick pattern is existing. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.11100 |
| 2nd High | 166.09600 |
| Next High | 165.02900 |
| Current Price | 164.48100 |
| Next Low | 161.48700 |
| 2nd Low | 161.00600 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers