AUD/JPY – 4H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
A descent down to the next support level at 96.92900 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 98.73100 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Harami’ chart pattern is found. The chart shows ‘Bearish Harami’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 98.73100 |
| Current Price | 98.37300 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami