AUD/JPY – 1H – BUYCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 97.5775 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 98.19700 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Matching Low’ candlestick chart pattern is found. The candles show ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.19700 |
| Current Price | 97.86200 |
| Next Low | 97.62600 |
| 2nd Low | 97.54200 |
| 3rd Low | 97.00600 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low