EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance line at 162.27200 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 161.38000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bullish chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 163.16800 |
| 2nd High | 162.80100 |
| Next High | 162.27200 |
| Current Price | 162.19800 |
| Next Low | 161.38000 |
| 2nd Low | 161.28900 |
| 3rd Low | 160.94900 |
162.27200 – 162.80100 – 162.62500 – 161.38000 – 161.28900 – 162.07600