AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
A bearish movement downwards to the next support level at 86.64500 is expected.
Caution: A possible change in the direction of the resistance zone at 91.10100 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Last Engulfing Bottom:’ candle chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
Additionally a ‘Double top chart pattern’ chart layout is found. The chart picture forms ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.13100 |
| 2nd High | 91.31600 |
| Next High | 91.10100 |
| Current Price | 89.58100 |
| Next Low | 86.64500 |
| 2nd Low | 86.04000 |
| 3rd Low |
91.10100 – 91.31600 – 87.90700 – 89.75500 – 86.64500 – 86.04000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Bottom: