EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support at 156.97900 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 158.63300 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 158.89000 |
| Next High | 158.63300 |
| Current Price | 158.39100 |
| Next Low | 156.97900 |
| 2nd Low | 156.17400 |
| 3rd Low | 156.04200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers