AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish movement downwards to the next support line at 97.04900 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 97.92300 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Harami’ candlestick chart pattern is discovered. The chart forms ‘Bearish Harami’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.73100 |
| Next High | 97.92300 |
| Current Price | 97.71400 |
| Next Low | 97.04900 |
| 2nd Low | 96.92900 |
| 3rd Low | 95.79700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami