AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish trend downwards to the next support at 97.49000 will continue.
Caution: A possible change in the direction of the resistance line at 98.73100 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Harami’ candlestick pattern is detected. The candles form ‘Bearish Harami’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 98.58800 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami