AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
A bearish descent downwards to the next support line at 97.42700 will persist.
Caution: A possible change in the direction of resistance at 98.72700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.72700 |
| Current Price | 97.81400 |
| Next Low | 97.42700 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Bottom: