AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
A bearish descent down to the next support line at 96.37300 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 97.23500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Meeting Lines’ candlestick pattern is existing. The candles form ‘Bullish Meeting Lines’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.49900 |
| 2nd High | 98.19400 |
| Next High | 97.23500 |
| Current Price | 97.13900 |
| Next Low | 96.37300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Meeting Lines