EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
A descent downwards to the next support line at 162.60100 is likely expected.
Caution: A possible change in the direction of the resistance zone at 164.86400 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Belt Hold’ candle chart pattern is detected. The candles form ‘Bullish Belt Hold’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 165.02900 |
| 2nd High | 164.89900 |
| Next High | 164.86400 |
| Current Price | 164.09900 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Belt Hold