AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support line at 97.70600 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.74700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle pattern is discovered. The candles show ‘Three Black Crows’. which is a negative pattern signal. The 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 | 101.55400 |
| 2nd High | 101.02600 |
| Next High | 98.74700 |
| Current Price | 97.56600 |
| Next Low | 97.70600 |
| 2nd Low | 97.62000 |
| 3rd Low | 96.70700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows