EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A bearish trend downwards to the next support at 163.01700 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 163.62600 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Meeting Lines’ candlestick chart pattern is existing. The candles show ‘Bullish Meeting Lines’. this is a bullish pattern signal. The currency pair is likely to rise. 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