EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 163.933 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 163.93300 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.51800 |
| 2nd High | 164.01600 |
| Next High | 163.93300 |
| Current Price | 163.47600 |
| Next Low | 162.37800 |
| 2nd Low | 161.59100 |
| 3rd Low | 161.15300 |
163.93300 – 163.01500 – 162.48500 – 162.37800 – 161.59100 – 162.37600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing