AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 98.34100 is likely expected.
Caution: A possible change in the direction of the resistance line at 98.74700 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Evening Star’ candlestick pattern is detected. The candles show ‘Evening Star’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.74700 |
| Current Price | 97.80700 |
| Next Low | 98.34100 |
| 2nd Low | 98.12700 |
| 3rd Low | 97.70600 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Evening Star