EUR/JPY – 30M – SELLFurthermore a ‘Double bottom retreat down’ chart pattern is found. The chart shows ‘Double bottom retreat down’. which is a bearish signal. The pair is likely to go down.
The pair Euro/Japanese Yen (EUR/JPY) goes from the bullish trendline down.
A descent downwards to the next support at 172.307 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 172.906 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish pattern signal. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.906 |
| 2nd High | 173.653 |
| Next High | 172.906 |
| Current Price | 172.88300 |
| Next Low | 172.307 |
| 2nd Low | 171.234 |
| 3rd Low | 171.113 |
172.906 – 172.741 – 172.674 – 172.307 – 172.488 – 172.714 — 72.142336052364 – 67.049180028597 — 97.132644139279 – 89.736666152343 – 98.370021773046 – 94.948910490494
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom retreat down – –