EUR/JPY – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 159.446904 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance zone at 158.63300 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candle pattern is detected. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 158.89000 |
| Next High | 158.63300 |
| Current Price | 158.50200 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers