EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline up.
A continuation of the upward movement upwards to the next resistance line at 162.07100 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 161.38200 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candlestick pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.40100 |
| 2nd High | 163.31300 |
| Next High | 162.07100 |
| Current Price | 161.92800 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up