EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline downwards
A descent downwards to the next support at 163.01700 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 163.62600 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Meeting Lines’ candlestick chart pattern is found. The chart forms ‘Bullish Meeting Lines’. 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 success rate of a ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.79700 |
| 2nd High | 163.65900 |
| Next High | 163.62600 |
| Current Price | 163.29300 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.50700 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Meeting Lines