AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish descent down to the next support line at 97.54200 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 97.95600 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘On Neck’ candle chart pattern is existing. The chart shows ‘On Neck’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.05700 |
| Next High | 97.95600 |
| Current Price | 97.71600 |
| Next Low | 97.54200 |
| 2nd Low | 97.00600 |
| 3rd Low | 96.95800 |