EUR/JPY – 30M – BUY

The pair Euro/Japanese Yen (EUR/JPY) goes from the ascending trendline down.

The bearish trend down to the next support level at 163.01700 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 163.62600 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Bullish Meeting Lines’ candle pattern is found. The chart shows ‘Bullish Meeting Lines’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Meeting Lines