AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
A bearish movement downwards to the next support at 95.79700 will persist.
Caution: A possible trend reversal in the direction of resistance at 98.72700 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 97.262 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 98.72700 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ candlestick chart pattern is discovered. The chart forms ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 97.96900 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low