AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the downtrend down to the next support at 95.51400 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 96.79500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 95.514 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 96.79500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.08000 |
| 2nd High | 96.91500 |
| Next High | 96.79500 |
| Current Price | 95.74300 |
| Next Low | 95.51400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows