AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
The bearish trend downwards to the next support line at 97.52200 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 98.49900 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Harami’ candlestick pattern is existing. The chart forms ‘Bearish Harami’. 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 chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.16100 |
| 2nd High | 98.65600 |
| Next High | 98.49900 |
| Current Price | 98.04100 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami