AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descending movement down to the next support at 97.86300 is certain.
Caution: A possible change in the direction of the resistance level at 98.72700 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.72700 |
| Current Price | 98.33300 |
| Next Low | 97.86300 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing