Buy EUR/JPY – 30M – BUY

The pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.

A bearish descent downwards to the next support line at 158.64400 will persist.

Caution: A possible trend reversal in the direction of the resistance line at 159.98800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Current target is 159.543856 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 159.98800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Matching Low’ candlestick pattern is discovered. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).

Support & Resistance Price Range*
3rd High 160.33800
2nd High 160.06400
Next High 159.98800
Current Price 159.75300
Next Low 158.64400
2nd Low 157.86000
3rd Low 157.55500

Download EUR/JPY Signal Image

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