EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 159.571 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 159.57100 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.97600 |
| Next High | 159.57100 |
| Current Price | 159.18400 |
| Next Low | 157.86000 |
| 2nd Low | 157.55500 |
| 3rd Low | 156.97900 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up