AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 89.63300 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 92.21600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The pair is likely to go down.
And also a ‘Matching Low’ candle chart pattern is discovered. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
And also a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.39200 |
| 2nd High | 95.30700 |
| Next High | 92.21600 |
| Current Price | 90.94900 |
| Next Low | 89.63300 |
| 2nd Low | 86.04000 |
| 3rd Low |
92.21600 – 91.40300 – 91.31600 – 89.63300 – 86.04000 – 86.11200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low