EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance line at 163.79700 will continue.
Caution: A possible trend reversal in the direction of the support zone at 163.01700 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.75300 |
| Next High | 163.79700 |
| Current Price | 163.90400 |
| Next Low | 163.01700 |
| 2nd Low | 162.84100 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers