AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
A bearish movement downwards to the next support level at 100.56500 is considered certain.
Caution: A possible change in the direction of the resistance zone at 101.55400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 102.39800 |
| Next High | 101.55400 |
| Current Price | 100.82400 |
| Next Low | 100.56500 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing