EUR/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend is certain. Target of the current trend is 183.17213 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 184.031 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Concealing Baby Swallow’ candle pattern is discovered. The candles form ‘Concealing Baby Swallow’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 184.451 |
| 2nd High | 184.402 |
| Next High | 184.031 |
| Current Price | 183.39500 |
| Next Low | 183.16 |
| 2nd Low | 182.788 |
| 3rd Low | 182.637 |
184.031 – 184.402 – 184.451 – 184.508 – 183.661 – 183.16 —
184.71300 – 184.93400 —
62.23663861794 – 29.585986998086 —
– —
184.031 – 1777908600
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Concealing Baby Swallow – – – – – – – – –