AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 96.33100 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 97.00200 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.00200 |
| Current Price | 96.59300 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing