AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
The bearish trend downwards to the next support level at 97.56300 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 98.72700 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. 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 | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.72700 |
| Current Price | 97.67900 |
| Next Low | 97.56300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low