AUD/JPY – 1H – SELL

The pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards

A bearish trend downwards to the next support line at 97.70600 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 98.74700 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing