EUR/JPY – 1H – BUYIn addition a ‘Hammer’ candle pattern is existing. The candles form ‘Hammer’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 163.31300 |
| Current Price | 161.84700 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |