AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descending movement downwards to the next support level at 106.074 is expected.
Caution: A possible change in the direction of resistance at 107.138 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Southern Doji’ candlestick pattern is discovered. The candles form ‘Southern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 108.996 |
| Next High | 107.138 |
| Current Price | 107.70600 |
| Next Low | 106.074 |
| 2nd Low | 106.072 |
| 3rd Low | 105.908 |
107.138 – 107.087 – 106.882 – 106.074 – 106.072 – 106.294 —
107.53800 – 107.96700 —
69.957151239039 – 67.642707644353 —
– —
107.13800 – 1769565600
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Southern Doji – Double bottom retreat down – – – – – – – –