EUR/JPY – 1H – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the bullish trendline down.

A bearish movement down to the next support level at 172.307 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 172.906 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Then a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. 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).

172.906 – 173.653 – 171.788 – 172.307 – 172.13 – 173.064 — 65.533933404271 – 61.480744003189 — 95.246046031198 – 87.896547497401 – 97.583102009841 – 93.548617842308

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom retreat down – –