EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
A bullish movement up to the next resistance at 164.75300 will persist.
Caution: A possible trend reversal in the direction of the support level at 163.15500 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ candle pattern is discovered. The chart shows ‘Three White Soldiers’. which 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 163.66500 |
| Next Low | 163.15500 |
| 2nd Low | 161.48700 |
| 3rd Low | 161.00600 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers