EUR/JPY – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 162.886724 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance line at 163.31300 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candlestick pattern is found. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. 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 | 163.42900 |
| 2nd High | 163.40100 |
| Next High | 163.31300 |
| Current Price | 162.32100 |
| Next Low | 161.62200 |
| 2nd Low | 161.38200 |
| 3rd Low | 160.89500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers