AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish trend downwards to the next support level at 95.98200 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 98.34300 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candlestick chart pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 96.86400 |
| Next Low | 95.98200 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down