AUD/JPY – 4H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement downwards to the next support level at 106.072 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 108.996 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 108.996 |
| Current Price | 107.63100 |
| Next Low | 106.072 |
| 2nd Low | 105.209 |
| 3rd Low | 104.718 |
108.996 – 106.711 – 105.928 – 106.072 – 105.209 – 105.582 —
108.04200 – 108.05200 —
68.32804521574 – 53.830495386075 —
– —
108.99600 – 1769155200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing – – – – – – – – –