EUR/JPY – 4H – BUYThe currency pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 161.70300 is certain.
Caution: A possible change in the direction of the resistance zone at 163.75200 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 164.18100 |
| 2nd High | 164.17500 |
| Next High | 163.75200 |
| Current Price | 163.69100 |
| Next Low | 161.70300 |
| 2nd Low | 160.97900 |
| 3rd Low | 159.47200 |
163.75200 – 162.66700 – 162.63200 – 161.70300 – 160.97900 – 161.23900
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji