AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
A descent downwards to the next support at 98.15100 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 99.16100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bullish Harami’ chart pattern is existing. The chart forms ‘Bullish Harami’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 99.16100 |
| Current Price | 98.37000 |
| Next Low | 98.15100 |
| 2nd Low | 97.52200 |
| 3rd Low | 97.49000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Harami