AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement down to the next support at 97.56300 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 98.72700 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart forms ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.72700 |
| Current Price | 97.79800 |
| Next Low | 97.56300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines