AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 97.77900 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 98.10800 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candle chart pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.72700 |
| 2nd High | 98.23600 |
| Next High | 98.10800 |
| Current Price | 97.95300 |
| Next Low | 97.77900 |
| 2nd Low | 97.74000 |
| 3rd Low | 97.73700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows