AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 98.34100 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 98.74700 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish 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 | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 98.48300 |
| Next Low | 98.34100 |
| 2nd Low | 98.12700 |
| 3rd Low | 97.70600 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing