EUR/JPY – 30M – SELL

The pair Euro/Japanese Yen (EUR/JPY) jumps from the ascending trendline down.

A bearish descent downwards to the next support at 173.462 is expected.

Caution: A possible trend reversal in the direction of resistance at 173.772 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Current target is 173.45849 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support zone at 173.772 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Northern Doji’ candlestick chart pattern is detected. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

173.772 – 173.492 – 173.447 – 173.462 – 172.504 – 172.307 — 61.296295613563 – 52.648895558485 — 74.821959794465 – 41.488626461132 – 85.620400666785 – 66.28905115338

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – –