AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 99.41200 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 100.67900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.27700 |
| 2nd High | 101.19300 |
| Next High | 100.67900 |
| Current Price | 99.78900 |
| Next Low | 99.41200 |
| 2nd Low | 99.08000 |
| 3rd Low | 98.34100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing