AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards
The bearish trend downwards to the next support line at 97.42700 is expected.
Caution: A possible change in the direction of resistance at 98.12200 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ candlestick chart pattern is found. The candles show ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.12200 |
| Current Price | 97.89100 |
| Next Low | 97.42700 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing