EUR/JPY – 30M – BUYThe currency pair moves from the ascending trendline up.
A continuation of the uptrend up to the next resistance at 164.65100 is certain.
Caution: A possible change in the direction of the support line at 163.57500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. 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 | 165.89600 |
| 2nd High | 165.41800 |
| Next High | 164.65100 |
| Current Price | 163.98700 |
| Next Low | 163.57500 |
| 2nd Low | 163.20300 |
| 3rd Low | 162.77200 |