AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
A bearish movement downwards to the next support at 95.90400 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 96.79500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 96.26 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 96.79500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Matching Low’ candlestick pattern is detected. The chart shows ‘Matching Low’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.08000 |
| 2nd High | 96.91500 |
| Next High | 96.79500 |
| Current Price | 95.96900 |
| Next Low | 95.90400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low