AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish descent downwards to the next support at 99.48200 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 101.27700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish 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 | 102.39800 |
| 2nd High | 101.34900 |
| Next High | 101.27700 |
| Current Price | 101.14800 |
| Next Low | 99.48200 |
| 2nd Low | 99.41200 |
| 3rd Low | 99.08000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing