EUR/JPY – 30M – BUYCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 161.7995 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 163.65900 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Matching Low’ candle pattern is discovered. The chart forms ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.92700 |
| 2nd High | 163.79700 |
| Next High | 163.65900 |
| Current Price | 162.82100 |
| Next Low | 159.80200 |
| 2nd Low | 159.63400 |
| 3rd Low | 159.10300 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low