AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 97.52200 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.19400 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Concealing Baby Swallow’ candle chart pattern is detected. The chart shows ‘Concealing Baby Swallow’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Concealing Baby Swallow’ going down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.65600 |
| 2nd High | 98.49900 |
| Next High | 98.19400 |
| Current Price | 97.64800 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Concealing Baby Swallow