AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 96.64000 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 97.41300 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.34300 |
| Next High | 97.41300 |
| Current Price | 96.88700 |
| Next Low | 96.64000 |
| 2nd Low | 95.98200 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing