AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 97.04900 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 98.03200 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.73100 |
| Next High | 98.03200 |
| Current Price | 97.75700 |
| Next Low | 97.04900 |
| 2nd Low | 96.92900 |
| 3rd Low | 95.79700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing