AUD/JPY – 1H – SELLThe pair goes from the descending trendline down.
A continuation of the downward movement down to the next support level at 99.68100 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 100.94100 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 is certain. Target of the current trend is 99.95064 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 100.94100 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.77100 |
| 2nd High | 101.41400 |
| Next High | 100.94100 |
| Current Price | 100.09400 |
| Next Low | 99.68100 |
| 2nd Low | 99.08000 |
| 3rd Low | 98.34100 |