AUD/JPY – 1H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 96.33100 will persist.
Caution: A possible change in the direction of the resistance zone at 97.08000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 96.289152 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 97.08000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Matching Low’ candlestick chart pattern is detected. The chart shows ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.08000 |
| Current Price | 96.35600 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low