EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 161.5635 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 161.48000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.15000 |
| Next Low | 160.76900 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing