EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the ascending trendline down.

The bearish trend down to the next support level at 164.93400 is expected.

Caution: A possible trend reversal in the direction of resistance at 167.21100 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

167.21100 – 166.74600 – 166.42200 – 164.93400 – 165.49200 – 165.37800

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