AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish movement down to the next support level at 95.90400 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 97.14200 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.53600 |
| Next High | 97.14200 |
| Current Price | 96.67100 |
| Next Low | 95.90400 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing