EUR/JPY – 30M – BUY

The combination Euro/Japanese Yen (EUR/JPY) breaks through the descending trendline upwards

A bullish ascent up to the next resistance line at 183.766 is likely expected.

Caution: A possible change in the direction of support at 182.099 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 184.326 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 183.766 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Three Outside Up’ candlestick chart pattern is existing. The candles form ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

183.766 – 183.685 – 186.869 – 182.099 – 181.783 – 184.802 —
183.56600 – 183.07700 —
60.838873965005 – 36.377368355284 —
– —
183.76600 – 1769553000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –