AUD/JPY – 30M – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 89.75500 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 91.10100 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish signal. The currency pair could go up.
There is also a ‘Northern Doji’ chart pattern is existing. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
There is also a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which could be a positive chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.13100 |
| 2nd High | 91.31600 |
| Next High | 91.10100 |
| Current Price | 90.29500 |
| Next Low | 89.75500 |
| 2nd Low | 86.64500 |
| 3rd Low | 86.04000 |
91.10100 – 91.31600 – 87.90700 – 89.75500 – 86.64500 – 86.04000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji