AUD/JPY – 1H – BUYThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A bearish movement downwards to the next support at 91.33100 is certain.
Caution: A possible change in the direction of the resistance line at 92.21600 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Shooting Star’ candle pattern is discovered. The chart forms ‘Shooting Star’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.30700 |
| 2nd High | 93.13100 |
| Next High | 92.21600 |
| Current Price | 91.66300 |
| Next Low | 91.33100 |
| 2nd Low | 90.54800 |
| 3rd Low | 89.63300 |
92.21600 – 91.60000 – 91.02900 – 91.33100 – 90.54800 – 89.63300
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Shooting Star