AUD/JPY – 1H – SELL

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

A continuation of the bearish trend down to the next support at 95.61100 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 97.79400 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 96.00192 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 97.79400 could be enabled.
Consider stop-loss settings accordingly.

Also there is a ‘On Neck’ candle pattern is detected. The candles show ‘On Neck’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – On Neck