EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 162.83600 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 163.50600 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Collapsing Doji Star’ candle pattern is detected. The candles form ‘Collapsing Doji Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.54500 |
| 2nd High | 163.80500 |
| Next High | 163.50600 |
| Current Price | 163.15200 |
| Next Low | 162.83600 |
| 2nd Low | 162.60100 |
| 3rd Low | 162.48800 |
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Collapsing Doji Star