AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
A descending movement downwards to the next support line at 96.75400 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 98.01100 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. 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 | 98.74700 |
| 2nd High | 98.02700 |
| Next High | 98.01100 |
| Current Price | 97.41000 |
| Next Low | 96.75400 |
| 2nd Low | 96.26700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing