AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
The bearish trend downwards to the next support at 97.49000 will persist.
Caution: A possible counter-trend in the direction of resistance at 99.16100 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ candle pattern is detected. The chart forms ‘Bearish Engulfing’. this 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 Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.55400 |
| 2nd High | 101.02600 |
| Next High | 99.16100 |
| Current Price | 97.91900 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing