EUR/JPY – 30M – BUY

Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 162.8795 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 163.31300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ candlestick chart pattern is found. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up