AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish movement downwards to the next support line at 95.79700 will persist.
Caution: A possible change in the direction of the resistance zone at 98.34300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Latter Bottom’ candlestick chart pattern is existing. The candles show ‘Latter Bottom’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.34300 |
| Current Price | 97.79800 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Latter Bottom