EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
The bearish trend downwards to the next support level at 159.36800 is expected.
Caution: A possible change in the direction of the resistance line at 160.06400 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Harami’ chart pattern is existing. The candles form ‘Bullish Harami’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.00700 |
| 2nd High | 160.33800 |
| Next High | 160.06400 |
| Current Price | 159.81400 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Harami