AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 97.29300 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 98.73100 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bullish Engulfing’ candlestick pattern is found. The chart forms ‘Bullish Engulfing’. this 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 ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.57500 |
| Next Low | 97.29300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bullish Engulfing