AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A bearish movement down to the next support level at 95.90400 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 97.00200 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘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 | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.00200 |
| Current Price | 96.50100 |
| Next Low | 95.90400 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing