EUR/JPY – 4H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 178.851 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 182.005 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 182.005 |
| Current Price | 180.50300 |
| Next Low | 179.765 |
| 2nd Low | 178.97 |
| 3rd Low | 175.697 |
182.005 – 178.819 – 178.228 – 179.765 – 178.97 – 175.697 —
180.92400 – 180.85000 —
53.125058297066 – 48.359599857024 —
– —
182.00500 – 1763654400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –