AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
A bearish trend downwards to the next support level at 95.98200 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 97.79400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 97.79400 |
| Current Price | 97.61200 |
| Next Low | 95.98200 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing