AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A descent down to the next support at is expected.
Caution: A possible counter-trend in the direction of resistance at 96.79500 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Harami’ candle pattern is found. The chart shows ‘Bullish Harami’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.08000 |
| 2nd High | 96.91500 |
| Next High | 96.79500 |
| Current Price | 95.65200 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Harami