AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support at 105.209 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 106.313 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘%K crosses below %D’ indicator signal is discovered. The indicator shows ‘%K crosses below %D’. which is often a bearish chart scenario. The pair is likely to go down.
Next a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 106.711 |
| 2nd High | 106.325 |
| Next High | 106.313 |
| Current Price | 106.07600 |
| Next Low | 105.209 |
| 2nd Low | 105.175 |
| 3rd Low | 104.87 |
106.313 – 106.325 – 106.228 – 105.209 – 105.523 – 105.867 —
106.15100 – 106.17400 —
70.109677121679 – 64.137622935287 —
– —
106.31300 – 1768527000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – – – – – – – – –