EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 159.36800 will continue.
Caution: A possible change in the direction of the resistance level at 160.06400 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Above the Stomach’ candle chart pattern is existing. The chart shows ‘Above the Stomach’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Above the Stomach’ going up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.70500 |
| 2nd High | 160.33800 |
| Next High | 160.06400 |
| Current Price | 159.78600 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Above the Stomach