EUR/JPY – 1H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance level at 161.55600 will persist.
Caution: A possible counter-trend in the direction of the support level at 159.80200 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The candles show ‘Bearish SBS White Lines’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.55600 |
| Current Price | 163.42700 |
| Next Low | 159.80200 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines