AUD/JPY – 30M – SELLNext a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair is likely to fall.
Next a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 107.32 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 108.481 could happen.
Consider stop-loss settings accordingly.
Next a ‘Last Engulfing Top’ candle pattern is found. The candles show ‘Last Engulfing Top’. 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 ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 108.996 |
| 2nd High | 108.566 |
| Next High | 108.481 |
| Current Price | 107.83600 |
| Next Low | 106.519 |
| 2nd Low | 106.396 |
| 3rd Low | 106.074 |
108.481 – 108.566 – 108.042 – 106.519 – 107.538 – 106.396 —
107.70100 – 107.98700 —
48.670969409644 – 53.676232209053 —
– —
108.48100 – 1769704200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Top – Double top retreat up – – – – – – – –