EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 164.059548 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance zone at 164.54500 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ chart pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.54500 |
| Current Price | 163.69900 |
| Next Low | 163.20600 |
| 2nd Low | 162.60100 |
| 3rd Low | 162.48800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers