EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline up.
An ascending movement up to the next resistance at 157.98100 will persist.
Caution: A possible change in the direction of the support zone at 156.17400 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ candle pattern is discovered. The candles form ‘Bullish Engulfing’. which is a bullish pattern 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’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 158.89000 |
| 2nd High | 158.63300 |
| Next High | 157.98100 |
| Current Price | 157.78600 |
| Next Low | 156.17400 |
| 2nd Low | 156.04200 |
| 3rd Low | 155.14800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing