AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
The bearish trend downwards to the next support line at 97.31700 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 98.01100 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.02700 |
| Next High | 98.01100 |
| Current Price | 96.61700 |
| Next Low | 97.31700 |
| 2nd Low | 96.70700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows