AUD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 99.061 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 100.30800 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.13800 |
| 2nd High | 101.02600 |
| Next High | 100.30800 |
| Current Price | 99.29300 |
| Next Low | 99.06100 |
| 2nd Low | 98.74200 |
| 3rd Low | 98.34100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing