AUD/JPY – 4H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
A bearish trend down to the next support line at 96.92900 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 98.73100 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.73100 |
| Current Price | 97.59000 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing