AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the bearish trend down to the next support at 99.06100 is considered certain.
Caution: A possible change in the direction of resistance at 100.30800 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.13800 |
| 2nd High | 101.02600 |
| Next High | 100.30800 |
| Current Price | 99.59000 |
| Next Low | 99.06100 |
| 2nd Low | 98.74200 |
| 3rd Low | 98.34100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing