EUR/JPY – 1H – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance at 161.55600 will persist.
Caution: A possible change in the direction of the support zone at 159.80200 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ candle pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.48600 |
| 2nd High | 162.46900 |
| Next High | 161.55600 |
| Current Price | 162.11600 |
| Next Low | 159.80200 |
| 2nd Low | 159.10300 |
| 3rd Low | 158.64400 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing