EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
A bullish trend up to the next resistance line at 163.61600 will persist.
Caution: A possible trend reversal in the direction of the support line at 163.01700 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Up’ candle pattern is existing. The candles show ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.75300 |
| 2nd High | 163.79700 |
| Next High | 163.61600 |
| Current Price | 163.66700 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up