EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline down.
A descending movement downwards to the next support line at 159.63400 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 162.00700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.11200 |
| Next High | 162.00700 |
| Current Price | 161.40100 |
| Next Low | 159.63400 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers