EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline downwards

A bearish descent down to the next support level at 168.45600 will persist.

Caution: A possible trend reversal in the direction of the resistance line at 169.54200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Next a ‘Northern Doji’ candlestick pattern is detected. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

169.54200 – 169.65700 – 169.85900 – 168.45600 – 168.70300 – 169.17800

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Head and Shoulder chart pattern