EUR/JPY – 4H – BUYThe pair Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline up.
An ascent up to the next resistance line at 162.63200 is considered certain.
Caution: A possible change in the direction of the support level at could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish chart signal. The pair is likely to go up.
In addition a ‘Three Outside Up’ candle chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.17500 |
| 2nd High | 163.27800 |
| Next High | 162.63200 |
| Current Price | 162.47800 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
162.63200 – 163.27800 – 162.37900 – 161.23900 – 161.28900 – 159.47200
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up