EUR/JPY – 30M – SELLThe combination Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 172.504 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 173.053 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ candle pattern is found. The candles show ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 173.906 |
| 2nd High | 173.653 |
| Next High | 173.053 |
| Current Price | 172.76000 |
| Next Low | 172.504 |
| 2nd Low | 172.307 |
| 3rd Low | 171.234 |
173.053 – 172.906 – 172.741 – 172.504 – 172.307 – 172.488 — 53.499815698895 – 51.597605613653 — 75.787534381649 – 82.788462525129 – 68.266818897365 – 74.047276011499
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –