AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 100.29700 will persist.
Caution: A possible change in the direction of the resistance line at 101.55400 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | |
| 2nd High | 102.39800 |
| Next High | 101.55400 |
| Current Price | 100.32400 |
| Next Low | 100.29700 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing