EUR/JPY – 1H – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.
The bearish trend downwards to the next support line at 169.84900 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 170.61000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a positive 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 170.61000 |
| Current Price | 172.30700 |
| Next Low | 169.84900 |
| 2nd Low | 169.03300 |
| 3rd Low | 168.45600 |
170.61000 – 169.78600 – 169.85900 – 169.84900 – 169.03300 – 168.45600 — 84.118398454027 – 80.32005775183 — 92.716922151074 – 85.253506447942 – 96.333766549122 – 91.506011353792
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Triple top chart pattern – –