Buy EUR/JPY – 1H – BUY

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

A continuation of the bullish trend up to the next resistance at 164.63200 is certain.

Caution: A possible trend reversal in the direction of the support level at 163.15600 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Target of the current trend is 164.632 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance zone at 164.63200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three White Soldiers’ candle chart pattern is detected. The chart forms ‘Three White Soldiers’. 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 success rate of a ‘Three White Soldiers’ going up is 82%.

Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.

Support & Resistance Price Range*
3rd High
2nd High
Next High 164.63200
Current Price 164.56700
Next Low 163.15600
2nd Low 162.37800
3rd Low 161.59100

163.93300 – 163.01500 – 162.94800 – 163.15600 – 162.37800 – 161.59100

Download EUR/JPY Signal Image

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