AUD/JPY – 30M – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downtrend down to the next support level at 90.54800 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 91.60000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.30700 |
| 2nd High | 93.13100 |
| Next High | 91.60000 |
| Current Price | 90.88400 |
| Next Low | 90.54800 |
| 2nd Low | 89.63300 |
| 3rd Low | 89.56300 |
91.60000 – 91.02900 – 90.57000 – 90.54800 – 90.68000 – 89.63300
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji