AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 99.06100 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 101.02600 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 101.02600 |
| Current Price | 98.89700 |
| Next Low | 99.06100 |
| 2nd Low | 98.34100 |
| 3rd Low | 98.02200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing