EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the descending trendline up.
An ascent up to the next resistance at 164.75300 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 156.17400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick pattern is discovered. The candles form ‘Three White Soldiers’. 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 ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.75300 |
| Current Price | 159.86100 |
| Next Low | 156.17400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers