EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 168.55300 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 169.39500 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 169.71100 |
| Next High | 169.39500 |
| Current Price | 169.06800 |
| Next Low | 168.55300 |
| 2nd Low | 168.08100 |
| 3rd Low | 167.90700 |
169.39500 – 169.37200 – 168.56100 – 168.55300 – 168.08100 – 167.90700
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji –