EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 159.571 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 159.97600 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Up’ chart pattern is found. The candles form ‘Three Outside Up’. which 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 ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.70500 |
| 2nd High | 160.33800 |
| Next High | 159.97600 |
| Current Price | 159.90400 |
| Next Low | 157.86000 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.97900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up