EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline up.
A continuation of the bullish trend up to the next resistance at 159.38600 is certain.
Caution: A possible trend reversal in the direction of the support level at 157.55500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Engulfing’ chart pattern is found. The candles show ‘Bullish Engulfing’. 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 likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.33800 |
| Next High | 159.38600 |
| Current Price | 158.85400 |
| Next Low | 157.55500 |
| 2nd Low | 156.17400 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing