AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
The bearish trend downwards to the next support level at 95.79700 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 98.73100 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Harami’ candle chart pattern is discovered. The chart forms ‘Bearish Harami’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.29300 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami