EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline down.

A continuation of the bearish trend downwards to the next support level at 168.45600 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 169.54200 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

169.54200 – 169.65700 – 169.85900 – 168.45600 – 168.70300 – 169.17800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Head and Shoulder chart pattern