AUD/JPY – 4H – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
The bearish trend down to the next support level at 95.79700 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 98.72700 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle pattern is detected. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.72700 |
| Current Price | 97.91700 |
| Next Low | 95.79700 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low