AUD/JPY – 1H – SELL

The combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.

A descent down to the next support at 97.74000 will persist.

Caution: A possible change in the direction of the resistance level at 98.40500 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 97.7338 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 98.40500 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Black Crows’ candle chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows