AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
A bearish descent down to the next support level at 95.61100 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 97.14800 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Harami’ candlestick pattern is existing. The candles show ‘Bullish Harami’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.39300 |
| Next Low | 95.61100 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Harami