EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 158.36800 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 159.38600 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Meeting Lines’ candle pattern is discovered. The chart shows ‘Bullish Meeting Lines’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.97600 |
| Next High | 159.38600 |
| Current Price | 159.33400 |
| Next Low | 158.36800 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.97900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Meeting Lines