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 161.983 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 161.98300 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ candle chart pattern is existing. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.11200 |
| 2nd High | 162.00700 |
| Next High | 161.98300 |
| Current Price | 161.56000 |
| Next Low | 160.65800 |
| 2nd Low | 159.63400 |
| 3rd Low | 159.10300 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up