EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards
A bearish trend down to the next support line at 159.63400 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 161.55600 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ chart pattern is existing. The candles form ‘Bullish Engulfing’. 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 probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.55600 |
| Current Price | 160.32600 |
| Next Low | 159.63400 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing