AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
The bearish trend down to the next support level at 97.31700 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 98.01100 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Matching Low’ candlestick chart pattern is detected. The candles show ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.02700 |
| Next High | 98.01100 |
| Current Price | 97.24200 |
| Next Low | 97.31700 |
| 2nd Low | 96.70700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low