AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
A descent downwards to the next support line at 95.61100 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 97.14800 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.30800 |
| Next Low | 95.61100 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing