AUD/JPY – 4H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 95.98200 is certain.
Caution: A possible change in the direction of the resistance line at 98.34300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ candle pattern is detected. The candles show ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.34300 |
| Current Price | 97.91400 |
| Next Low | 95.98200 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low