AUD/JPY – 4H – SELL

Next a ‘Rising Wedge Chart Pattern’ chart formation is found. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to go down.

The pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline downwards

A descending movement down to the next support line at is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 101.819 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 99.335 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 101.819 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

101.819 – 101.136 – 101.205 – 100.22 – 98.818 – 96.851 —
101.16300 – 100.89100 —
52.483874419154 – 47.233512859257 —
– —
101.81900 – 1763020800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Matching Low – Rising Wedge Chart Pattern – – – –