AUD/JPY – 30M – SELL

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards

A continuation of the bearish trend down to the next support line at 109.978 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 110.401 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Matching Low’ candlestick pattern is discovered. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

110.401 – 110.318 – 110.912 – 109.978 – 109.62 – 110.565 —
110.21700 – 110.07900 —
47.417721945884 – 36.858338536861 —
– —
110.401 – 1774638000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low – – – – – – – – –