EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
The bearish trend downwards to the next support at 160.89500 is considered certain.
Caution: A possible change in the direction of the resistance line at 164.54500 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candle chart pattern is found. The chart shows ‘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 success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.54500 |
| Current Price | 163.06200 |
| Next Low | 160.89500 |
| 2nd Low | 159.80200 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers