AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish descent down to the next support line at 95.79700 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 98.74700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 98.57600 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing