AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 97.00600 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.05700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Harami’ candlestick pattern is existing. The chart forms ‘Bullish Harami’. which is a bullish chart scenario. 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 | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.05700 |
| Current Price | 97.71200 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 96.64000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Harami