AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement down to the next support level at 97.74000 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 98.10000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish 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 | 98.72700 |
| 2nd High | 98.23600 |
| Next High | 98.10000 |
| Current Price | 97.90500 |
| Next Low | 97.74000 |
| 2nd Low | 97.73700 |
| 3rd Low | 97.42700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing