EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards
A bullish movement up to the next resistance line at 163.31300 is expected.
Caution: A possible change in the direction of the support zone at 161.62200 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Harami Cross’ candlestick pattern is discovered. The chart shows ‘Bearish Harami Cross’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami Cross’ going down is 57% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.42900 |
| 2nd High | 163.40100 |
| Next High | 163.31300 |
| Current Price | 163.34700 |
| Next Low | 161.62200 |
| 2nd Low | 161.38200 |
| 3rd Low | 160.89500 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish Harami Cross