AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 95.79700 is expected.
Caution: A possible change in the direction of the resistance level at 98.72700 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ candle chart pattern is discovered. The chart shows ‘Matching Low’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.72700 |
| Current Price | 98.04400 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low