AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at 96.16000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 97.53600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Engulfing’ candle pattern is existing. The chart shows ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.02700 |
| 2nd High | 98.01100 |
| Next High | 97.53600 |
| Current Price | 96.18500 |
| Next Low | 96.16000 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing