EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will persist. Current target is 161.008 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 162.00700 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candle pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish signal. The currency 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.11200 |
| Next High | 162.00700 |
| Current Price | 160.52100 |
| Next Low | 159.90400 |
| 2nd Low | 158.69600 |
| 3rd Low | 158.36500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers