AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 97.31700 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 98.02700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 97.317 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 98.02700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. 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 probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.02700 |
| Current Price | 97.59400 |
| Next Low | 97.31700 |
| 2nd Low | 96.70700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows