AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
A bearish descent downwards to the next support at 97.83600 will continue.
Caution: A possible change in the direction of resistance at 98.40500 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Harami’ chart pattern is detected. The candles show ‘Bearish Harami’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.43800 |
| Next High | 98.40500 |
| Current Price | 98.32400 |
| Next Low | 97.83600 |
| 2nd Low | 97.74000 |
| 3rd Low | 97.73700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami