EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 159.99 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 159.88100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Outside Up’ candlestick pattern is found. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 159.99000 |
| Next High | 159.88100 |
| Current Price | 159.78500 |
| Next Low | 159.44600 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up