EUR/JPY – 30M – BUYThe combination Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 163.15600 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 163.63600 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive signal. 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 | 164.01600 |
| 2nd High | 163.93300 |
| Next High | 163.63600 |
| Current Price | 163.48300 |
| Next Low | 163.15600 |
| 2nd Low | 162.37800 |
| 3rd Low | 161.59100 |
163.63600 – 163.93300 – 163.01500 – 163.15600 – 162.37800 – 161.59100
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji