EUR/JPY – 30M – SELLThe pair Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support level at 182.807 will persist.
Caution: A possible change in the direction of the resistance zone at 183.369 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.
Next a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 183.607 |
| 2nd High | 183.381 |
| Next High | 183.369 |
| Current Price | 182.95100 |
| Next Low | 182.807 |
| 2nd Low | 182.196 |
| 3rd Low | 181.565 |
183.369 – 183.381 – 183.607 – 183.006 – 183.009 – 182.807 —
182.90200 – 182.98400 —
35.591056890203 – 47.72060890109 —
– —
183.36900 – 1767758400
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Northern Doji – – – – – – – – –