EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
A bullish trend upwards to the next resistance at 163.11300 is expected.
Caution: A possible counter-trend in the direction of the support zone at 162.36700 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Tri-Star’ candle pattern is found. The chart shows ‘Bullish Tri-Star’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.80500 |
| 2nd High | 163.50600 |
| Next High | 163.11300 |
| Current Price | 162.89200 |
| Next Low | 162.36700 |
| 2nd Low | 161.62200 |
| 3rd Low | 161.38200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Tri-Star