EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 156.97900 will continue.
Caution: A possible change in the direction of the resistance zone at 158.63300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Engulfing’ candle chart pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 158.89000 |
| Next High | 158.63300 |
| Current Price | 158.37300 |
| Next Low | 156.97900 |
| 2nd Low | 156.17400 |
| 3rd Low | 156.04200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing