AUD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 86.112 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 89.08800 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.30700 |
| 2nd High | 93.13100 |
| Next High | 89.08800 |
| Current Price | 87.69700 |
| Next Low | 86.11200 |
| 2nd Low | |
| 3rd Low |
89.08800 – 93.13100 – 95.30700 – 86.11200 – 87.40400 – 90.55700
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Bottom: