AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descent downwards to the next support line at 98.12700 is certain.
Caution: A possible trend reversal in the direction of resistance at 98.74700 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. 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 | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 98.47400 |
| Next Low | 98.12700 |
| 2nd Low | 97.70600 |
| 3rd Low | 97.62000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing