EUR/JPY – 30M – SELLThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A descending movement down to the next support line at is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 173.409 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The pair is likely to go up.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 172.261 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 173.409 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. 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 | 173.409 |
| Current Price | 172.74800 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
173.409 – 171.706 – 171.788 – 172.751 – 171.234 – 171.264 — 41.260855374817 – 37.026527604347 — 2.5542695114582 – 2.5542695114582 – 6.9522327746052 – 2.4651596193707
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Triple bottom chart pattern – –