AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
The bearish trend down to the next support line at 96.26000 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 96.91500 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.14200 |
| 2nd High | 97.08000 |
| Next High | 96.91500 |
| Current Price | 96.29500 |
| Next Low | 96.26000 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing