EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
The bullish trend up to the next resistance level at 163.40100 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 162.61000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bullish Belt Hold’ candlestick pattern is existing. The chart shows ‘Bullish Belt Hold’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.86400 |
| 2nd High | 163.42900 |
| Next High | 163.40100 |
| Current Price | 163.08100 |
| Next Low | 162.61000 |
| 2nd Low | 162.44600 |
| 3rd Low | 162.33800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Belt Hold