EUR/JPY – 1H – BUY

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

The bullish trend up to the next resistance line at 183.9 is considered certain.

Caution: A possible counter-trend in the direction of the support level at 182.039 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 184.327944 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 183.9 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The chart shows ‘Bearish SBS White Lines’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

183.9 – 185.035 – 184.402 – 182.039 – 183.16 – 182.637 —
183.86600 – 183.88200 —
48.852921001737 – 46.271830616613 —
– —
183.9 – 1778094000

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Bearish SBS White Lines – – – – – – – – –