EUR/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 159.571 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 160.33800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ candlestick pattern is detected. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.11200 |
| 2nd High | 162.00700 |
| Next High | 160.33800 |
| Current Price | 159.94700 |
| Next Low | 157.86000 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers