AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downward movement down to the next support line at 96.70700 will persist.
Caution: A possible trend reversal in the direction of resistance at 98.02700 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is discovered. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.02700 |
| Current Price | 97.09400 |
| Next Low | 96.70700 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows