The currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support at will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 90.36800 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The pair is likely to go down.
Next a ‘Last Engulfing Top’ candle pattern is found. The candles form ‘Last Engulfing Top’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 91.31600 |
2nd High | 91.10100 |
Next High | 90.36800 |
Current Price | 88.90100 |
Next Low | |
2nd Low | |
3rd Low |
90.36800 – 91.10100 – 91.31600 – 86.04000 – 86.11200 – 92.27800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Top