EUR/JPY – 30M – BUYThe currency pair jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 165.33100 will continue.
Caution: A possible counter-trend in the direction of resistance at 166.03200 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Target of the current trend is 165.5635 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 166.03200 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.35300 |
| 2nd High | 166.11100 |
| Next High | 166.03200 |
| Current Price | 165.46700 |
| Next Low | 165.33100 |
| 2nd Low | 165.20800 |
| 3rd Low | 165.01600 |