EUR/JPY – 1H – BUY

The combination Euro/Japanese Yen (EUR/JPY) breaks through the ascending trendline up.

A continuation of the upward movement up to the next resistance at 163.75200 is likely expected.

Caution: A possible reversal of the trend in the direction of the support line at 161.70300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 163.313514 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 163.75200 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three White Soldiers’ chart pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.

Besides a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.

162.64800 – 162.54000 – 163.75200 – 161.70300 – 161.71200 – 162.01900

Download EUR/JPY Signal Image

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three White Soldiers