AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 97.42700 is expected.
Caution: A possible change in the direction of the resistance zone at 98.02700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 97.262 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 98.02700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.02700 |
| Current Price | 97.97600 |
| Next Low | 97.42700 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows