AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 97.49000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 99.16100 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Harami’ candlestick chart pattern is detected. The candles form ‘Bearish Harami’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.55400 |
| 2nd High | 101.02600 |
| Next High | 99.16100 |
| Current Price | 98.55200 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami