EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance level at 163.97400 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 161.48700 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 163.97400 |
| Current Price | 163.87100 |
| Next Low | 161.48700 |
| 2nd Low | 161.00600 |
| 3rd Low | 158.69600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers