AUD/JPY – 4H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 104.347 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Shooting Star’ candle pattern is discovered. The chart shows ‘Shooting Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 105.40100 |
| Next Low | 104.347 |
| 2nd Low | 102.313 |
| 3rd Low | 101.506 |
105.273 – 104.39 – 102.357 – 104.347 – 102.313 – 103.179 —
105.23700 – 105.62400 —
62.613814556477 – 59.179121948893 —
– —
105.27300 – 1767340800
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Shooting Star – Double bottom chart pattern – – – – – – – –