AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
The bearish trend downwards to the next support at 97.77900 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 98.10800 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.23600 |
| Next High | 98.10800 |
| Current Price | 98.06400 |
| Next Low | 97.77900 |
| 2nd Low | 97.74000 |
| 3rd Low | 97.73700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing