EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 172.504 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 173.053 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Collapsing Doji Star’ candle pattern is existing. The candles show ‘Collapsing Doji Star’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.906 |
| 2nd High | 173.653 |
| Next High | 173.053 |
| Current Price | 172.85600 |
| Next Low | 172.504 |
| 2nd Low | 172.307 |
| 3rd Low | 171.234 |
173.053 – 172.906 – 172.741 – 172.504 – 172.307 – 172.488 — 62.967859335695 – 53.105993445464 — 99.100131584532 – 77.462965321109 – 95.800685745285 – 90.905647686496
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Collapsing Doji Star – – –