AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
The bearish trend downwards to the next support at 95.98200 will continue.
Caution: A possible change in the direction of resistance at 97.33500 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Matching Low’ candle pattern is found. The candles show ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.34300 |
| 2nd High | 97.41300 |
| Next High | 97.33500 |
| Current Price | 96.29400 |
| Next Low | 95.98200 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low