EUR/JPY – 30M – SELL

The pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.

A descent down to the next support level at 165.49200 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 166.42200 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

166.42200 – 165.80900 – 165.45600 – 165.49200 – 165.84900 – 165.37800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji