EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A descent downwards to the next support at 157.55500 is considered certain.
Caution: A possible change in the direction of the resistance zone at 159.02900 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Harami’ candlestick chart pattern is detected. The chart forms ‘Bullish Harami’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 159.97600 |
| 2nd High | 159.38600 |
| Next High | 159.02900 |
| Current Price | 158.25900 |
| Next Low | 157.55500 |
| 2nd Low | 156.97900 |
| 3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Harami