EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline upwards
A bullish ascent upwards to the next resistance at 167.05300 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 165.92400 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Engulfing’ chart pattern is found. The chart forms ‘Bullish Engulfing’. this 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 ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 167.61300 |
| 2nd High | 167.58500 |
| Next High | 167.05300 |
| Current Price | 166.66700 |
| Next Low | 165.92400 |
| 2nd Low | 164.93400 |
| 3rd Low | 164.62100 |
167.05300 – 167.04700 – 167.58500 – 166.69900 – 166.97100 – 165.92400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing