AUD/JPY – 30M – SELL

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.

A descending movement down to the next support at 112.593 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 113.128 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

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

112.89 – 112.534 – 112.834 – 112.593 – 112.03 – 112.176 —
112.99400 – 112.94800 —
58.250236031204 – 57.920393074665 —
– —
112.89 – 1781231400

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –