AUD/JPY – 30M – SELL

The pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 100.138 will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 101.148 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ chart pattern is detected. The candles show ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

101.148 – 101.131 – 101.293 – 100.138 – 100.6 – 100.769 —
100.70700 – 101.09600 —
52.545497437013 – 66.608485613276 —
– —
101.14800 – 1763406000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Double bottom retreat down – – – –