EUR/JPY – 1H – BUYThe combination Euro/Japanese Yen (EUR/JPY) jumps from the bullish trendline downwards
A bearish movement down to the next support line at 161.83600 will continue.
Caution: A possible trend reversal in the direction of resistance at 163.75200 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Matching Low’ candle chart pattern is detected. The chart shows ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
Moreover a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.18100 |
| 2nd High | 164.17500 |
| Next High | 163.75200 |
| Current Price | 161.96000 |
| Next Low | 161.83600 |
| 2nd Low | 161.15300 |
| 3rd Low | 160.97900 |
163.75200 – 162.45900 – 162.46200 – 162.01900 – 161.83600 – 161.15300
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Matching Low