EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline up.
A continuation of the upward movement up to the next resistance level at 164.67000 is expected.
Caution: A possible counter-trend in the direction of support at 163.80100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ chart pattern is found. The candles show ‘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 chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.41800 |
| 2nd High | 164.79500 |
| Next High | 164.67000 |
| Current Price | 164.91300 |
| Next Low | 163.80100 |
| 2nd Low | 163.62700 |
| 3rd Low | 163.23800 |