AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish movement down to the next support at 97.42700 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 98.02700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.02700 |
| Current Price | 97.94100 |
| Next Low | 97.42700 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing