The currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the bearish trend down to the next support at 113.097 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 113.712 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 114.22 |
| 2nd High | 113.874 |
| Next High | 113.712 |
| Current Price | 113.41000 |
| Next Low | 113.097 |
| 2nd Low | 112.981 |
| 3rd Low | 112.278 |
113.712 – 113.874 – 113.682 – 113.097 – 113.269 – 113.353 —
113.35000 – 113.46800 —
50.299505761335 – 54.115871826647 —
– —
113.712 – 1784260800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing – – – – – – – – –