AUD/JPY – 30M – SELLThe pair goes from the descending trendline down.
A continuation of the downward movement down to the next support level at 100.39800 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 101.06300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 100.296 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support zone at 101.06300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.68600 |
| 2nd High | 101.51900 |
| Next High | 101.06300 |
| Current Price | 100.44300 |
| Next Low | 100.39800 |
| 2nd Low | 100.29600 |
| 3rd Low | 100.15400 |