EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 159.98800 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 159.36800 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candle pattern is detected. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 160.33800 |
| 2nd High | 160.06400 |
| Next High | 159.98800 |
| Current Price | 160.22700 |
| Next Low | 159.36800 |
| 2nd Low | 157.86000 |
| 3rd Low | 157.55500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers