AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
A descending movement downwards to the next support at 95.98200 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 97.14800 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Harami’ candle pattern is detected. The chart forms ‘Bullish Harami’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.80400 |
| Next Low | 95.98200 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Harami