EUR/JPY – 30M – BUY

The currency pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards

A continuation of the downtrend down to the next support level at is likely expected.

Caution: A possible change in the direction of the resistance line at 162.01500 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 161.567748 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 162.01500 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.

Additionally a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which 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 ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

162.01500 – 162.63200 – 162.26200 – 161.23900 – 161.49400 – 161.38000

Download EUR/JPY Signal Image

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