AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 96.16000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 97.14200 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish SBS White Lines’ chart pattern is discovered. The candles show ‘Bearish SBS White Lines’. 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 probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.53600 |
| Next High | 97.14200 |
| Current Price | 96.73000 |
| Next Low | 96.16000 |
| 2nd Low | 95.65700 |
| 3rd Low | 95.31700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish SBS White Lines