EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A descending movement downwards to the next support at 159.63400 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 160.25400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candlestick pattern is discovered. The candles form ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.68900 |
| 2nd High | 160.54100 |
| Next High | 160.25400 |
| Current Price | 159.79800 |
| Next Low | 159.63400 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low