EUR/JPY – 30M – BUYIn addition a ‘Bullish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
In addition a ‘Double top chart pattern’ chart pattern is existing. The chart picture forms ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 162.46200 |
| 2nd High | 162.45900 |
| Next High | 162.38300 |
| Current Price | 162.04500 |
| Next Low | 161.83600 |
| 2nd Low | 161.15300 |
| 3rd Low | 160.97900 |
162.38300 – 162.45900 – 162.46200 – 161.83600 – 161.15300 – 160.97900
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing