The combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 159.02900 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 157.55500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candle chart pattern is detected. The chart forms ‘Three White Soldiers’. which 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 ‘Three White Soldiers’ heading up is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 159.97600 |
2nd High | 159.38600 |
Next High | 159.02900 |
Current Price | 159.19800 |
Next Low | 157.55500 |
2nd Low | 156.97900 |
3rd Low | 156.17400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers