EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A descending movement down to the next support at 159.36800 will persist.
Caution: A possible change in the direction of the resistance line at 159.98800 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Harami’ candlestick chart pattern is existing. The chart shows ‘Bullish Harami’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 160.06400 |
| Next High | 159.98800 |
| Current Price | 159.94200 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Harami