AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the downtrend down to the next support line at 96.33100 will persist.
Caution: A possible change in the direction of the resistance level at 97.08000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.08000 |
| Current Price | 96.29500 |
| Next Low | 96.33100 |
| 2nd Low | 95.90400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows