AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A bearish descent downwards to the next support level at 100.68200 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 101.17200 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 existing. The candles form ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.34900 |
| 2nd High | 101.27700 |
| Next High | 101.17200 |
| Current Price | 100.92200 |
| Next Low | 100.68200 |
| 2nd Low | 100.45500 |
| 3rd Low | 100.13900 |