EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
A bearish movement down to the next support line at 162.60100 is considered certain.
Caution: A possible change in the direction of the resistance line at 164.38800 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Southern Doji’ candlestick chart pattern is found. The candles form ‘Southern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.89900 |
| 2nd High | 164.86400 |
| Next High | 164.38800 |
| Current Price | 164.10600 |
| Next Low | 162.60100 |
| 2nd Low | 162.48800 |
| 3rd Low | 161.62200 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Southern Doji