EUR/JPY – 1H – SELLAdditionally a ‘Double top retreat up’ chart layout is discovered. The chart forms ‘Double top retreat up’. which is a positive signal. The currency pair is likely to rise.
The combination Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
The bearish trend down to the next support at 165.49200 will persist.
Caution: A possible change in the direction of the resistance level at 166.74600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 166.74600 |
| Current Price | 165.48000 |
| Next Low | 165.49200 |
| 2nd Low | 165.37800 |
| 3rd Low | 164.62100 |
166.74600 – 166.42200 – 165.45600 – 165.49200 – 165.37800 – 164.62100
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji