AUD/JPY – 30M – BUYThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline downwards
A bearish trend down to the next support at 97.62600 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 98.27500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Down’ candle pattern is found. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.27500 |
| Current Price | 98.03800 |
| Next Low | 97.62600 |
| 2nd Low | 97.54200 |
| 3rd Low | 97.00600 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down