AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
The bearish trend downwards to the next support line at 95.61100 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 97.79400 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 96.654 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 97.79400 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.02700 |
| 2nd High | 98.01100 |
| Next High | 97.79400 |
| Current Price | 97.01800 |
| Next Low | 95.61100 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows