AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
The bearish trend downwards to the next support line at 96.33100 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 97.08000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.08000 |
| Current Price | 96.35600 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing