AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.
The bearish trend downwards to the next support level at 95.98200 will persist.
Caution: A possible change in the direction of the resistance level at 98.34300 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 96.791 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 98.34300 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candle pattern is detected. The candles show ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.34300 |
| Current Price | 96.29400 |
| Next Low | 95.98200 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows