EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 183.739 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 182.57 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candlestick chart pattern is existing. The candles form ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 186.869 |
| 2nd High | 183.766 |
| Next High | 183.739 |
| Current Price | 183.24800 |
| Next Low | 182.57 |
| 2nd Low | 182.099 |
| 3rd Low | 181.783 |
183.739 – 183.572 – 183.766 – 182.57 – 182.099 – 181.783 —
183.34200 – 183.07200 —
49.344866348347 – 45.723593138406 —
– —
183.73900 – 1769677200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – Symmetrical Triangle Chart Pattern – – – – – – – –