AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
The bearish trend downwards to the next support at 97.00600 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 98.34300 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 97.25439 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 98.34300 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. 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 | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 97.53500 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 95.98200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows