EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 160.76900 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 162.46900 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Harami’ candlestick chart pattern is discovered. The candles show ‘Bullish Harami’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.76900 |
| 2nd High | 162.48600 |
| Next High | 162.46900 |
| Current Price | 161.33100 |
| Next Low | 160.76900 |
| 2nd Low | 160.65800 |
| 3rd Low | 159.63400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Harami