EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance level at 163.18100 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 162.50700 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Up’ chart pattern is found. The candles form ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.18100 |
| Current Price | 163.05900 |
| Next Low | 162.50700 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up