AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 96.44700 will persist.
Caution: A possible change in the direction of the resistance level at 97.14800 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Matching Low’ candlestick pattern is existing. The candles show ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.57500 |
| Next Low | 96.44700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low