AUD/JPY – 4H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 92.31100 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 94.74500 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.74300 |
| 2nd High | 95.64000 |
| Next High | 94.74500 |
| Current Price | 94.25200 |
| Next Low | 92.31100 |
| 2nd Low | 92.05400 |
| 3rd Low | 92.00900 |
94.74500 – 93.86900 – 93.19400 – 92.31100 – 92.05400 – 92.00900
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji