AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A descent downwards to the next support level at 93.14600 is likely expected.
Caution: A possible change in the direction of the resistance zone at 94.25300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Matching Low’ candlestick chart pattern is existing. The candles form ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
Additionally a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.34800 |
| 2nd High | 95.03300 |
| Next High | 94.25300 |
| Current Price | 94.17100 |
| Next Low | 93.14600 |
| 2nd Low | 92.53000 |
| 3rd Low | 92.29400 |
94.25300 – 94.20600 – 93.86200 – 93.14600 – 93.63500 – 93.15800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low