AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish trend down to the next support level at 96.79100 is certain.
Caution: A possible counter-trend in the direction of resistance at 98.34300 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 96.791 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support line at 98.34300 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 97.02700 |
| Next Low | 96.79100 |
| 2nd Low | 95.98200 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows