AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish descent downwards to the next support line at 97.00600 will continue.
Caution: A possible counter-trend in the direction of resistance at 98.05700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.05700 |
| Current Price | 97.69900 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 95.98200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing