AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A bearish trend downwards to the next support line at 97.04900 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 97.92300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| 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 Engulfing