EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance at 161.48000 is certain.
Caution: A possible change in the direction of the support level at 161.02900 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candlestick pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.48000 |
| Current Price | 161.29000 |
| Next Low | 161.02900 |
| 2nd Low | 160.76900 |
| 3rd Low | 160.65800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers