AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 97.51300 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 98.74700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 97.53100 |
| Next Low | 97.51300 |
| 2nd Low | 96.70700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing