AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement downwards to the next support at 92.80500 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 95.30700 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ chart pattern is found. The candles form ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.74300 |
| 2nd High | 95.39200 |
| Next High | 95.30700 |
| Current Price | 93.61300 |
| Next Low | 92.80500 |
| 2nd Low | 92.21400 |
| 3rd Low | 92.11000 |
93.54400 – 93.33600 – 93.56100 – 92.80500 – 92.21400 – 92.11000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low