AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
A descent downwards to the next support level at 96.92900 is likely expected.
Caution: A possible change in the direction of resistance at 98.73100 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three Line Strike – Bearish’ candle pattern is found. The chart shows ‘Three Line Strike – Bearish’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.29400 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Line Strike – Bearish