AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
A bearish movement downwards to the next support line at 97.78000 is likely expected.
Caution: A possible change in the direction of resistance at 98.25800 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.43800 |
| 2nd High | 98.40500 |
| Next High | 98.25800 |
| Current Price | 98.51100 |
| Next Low | 97.78000 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing