AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
A descent down to the next support at 97.74000 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 98.10000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.23600 |
| Next High | 98.10000 |
| Current Price | 97.93400 |
| Next Low | 97.74000 |
| 2nd Low | 97.73700 |
| 3rd Low | 97.42700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing