EUR/JPY – 30M – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance line at 172.36000 is certain.
Caution: A possible change in the direction of the support line at 171.73900 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Engulfing’ candle chart pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 172.69800 |
| Next High | 172.36000 |
| Current Price | 172.32000 |
| Next Low | 171.73900 |
| 2nd Low | 171.52000 |
| 3rd Low | 171.33800 |
172.36000 – 171.78900 – 171.94300 – 171.73900 – 171.52000 – 171.33800 — 62.899318240081 – 63.56620860419 — 97.013741019393 – 97.65601217656 – 78.754148560868 – 93.653590731409
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bullish Engulfing – – –