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 line at 164.93400 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 167.21100 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Northern Doji’ candle pattern is found. The chart shows ‘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’ 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