AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 100.04700 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 100.72100 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candle chart pattern is detected. The candles form ‘Bearish Engulfing’. this 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 likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.13800 |
| 2nd High | 100.80000 |
| Next High | 100.72100 |
| Current Price | 100.62000 |
| Next Low | 100.04700 |
| 2nd Low | 99.48200 |
| 3rd Low | 99.41200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing