AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish movement down to the next support level at 96.16000 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 97.14200 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.53600 |
| Next High | 97.14200 |
| Current Price | 96.54700 |
| Next Low | 96.16000 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing