EUR/JPY – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 162.3285 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 162.11200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ chart pattern is found. The candles show ‘Three White Soldiers’. which is a positive signal. The 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 | 164.75300 |
| 2nd High | 162.48600 |
| Next High | 162.11200 |
| Current Price | 161.07600 |
| Next Low | 159.90400 |
| 2nd Low | 158.69600 |
| 3rd Low | 158.36500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers