EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 163.79700 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 163.01700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Meeting Lines’ candlestick chart pattern is existing. The candles show ‘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’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.79700 |
| Current Price | 163.70200 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Meeting Lines