EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance line at 163.01500 is expected.
Caution: A possible counter-trend in the direction of the support line at should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The pair is likely to go up.
Next a ‘Bullish Engulfing’ candle chart pattern is existing. The chart forms ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.51800 |
| 2nd High | 164.01600 |
| Next High | 163.01500 |
| Current Price | 162.72800 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
163.01500 – 162.48500 – 162.94800 – 162.37800 – 161.59100 – 162.37600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing