AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
A bearish movement down to the next support at 97.78200 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 98.49900 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.16100 |
| 2nd High | 98.65600 |
| Next High | 98.49900 |
| Current Price | 98.08200 |
| Next Low | 97.78200 |
| 2nd Low | 97.66400 |
| 3rd Low | 97.52200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing