AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A descending movement down to the next support at 98.73300 will continue.
Caution: A possible counter-trend in the direction of resistance at 99.16100 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The chart forms ‘Last Engulfing Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 99.16100 |
| Current Price | 98.67200 |
| Next Low | 98.73300 |
| 2nd Low | 98.15100 |
| 3rd Low | 97.52200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Top