EUR/JPY – 30M – BUYThe pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline downwards
A bearish trend down to the next support line at 162.44600 is expected.
Caution: A possible change in the direction of the resistance zone at 163.40100 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candle pattern is found. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.86400 |
| 2nd High | 163.42900 |
| Next High | 163.40100 |
| Current Price | 162.90000 |
| Next Low | 162.44600 |
| 2nd Low | 162.33800 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up