EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A descending movement down to the next support at 163.01700 will continue.
Caution: A possible change in the direction of the resistance level at 163.62600 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Meeting Lines’ candle pattern is detected. The chart shows ‘Bullish Meeting Lines’. 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 ‘Bullish Meeting Lines’ heading 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