AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the downtrend down to the next support level at 97.00600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.34300 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 97.53500 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 96.64000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing