EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
An ascent upwards to the next resistance line at 157.98100 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 156.17400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three White Soldiers’ chart pattern is found. The chart shows ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. 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 | 158.89000 |
| 2nd High | 158.63300 |
| Next High | 157.98100 |
| Current Price | 158.04500 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers