EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 156.37300 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 158.63300 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Engulfing’ candle pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 158.89000 |
| Next High | 158.63300 |
| Current Price | 156.68700 |
| Next Low | 156.37300 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing