EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A bearish movement downwards to the next support level at 159.80200 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 164.89900 could occur.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candle chart pattern is existing. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 162.35700 |
| Next Low | 159.80200 |
| 2nd Low | 158.64400 |
| 3rd Low | 157.86000 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers