EUR/JPY – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 164.042144 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 164.89900 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 166.09600 |
| 2nd High | 165.02900 |
| Next High | 164.89900 |
| Current Price | 163.34700 |
| Next Low | 161.38200 |
| 2nd Low | 160.89500 |
| 3rd Low | 159.80200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers