AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 97.78000 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 98.25800 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Two Crows’ candle chart pattern is discovered. The candles form ‘Two Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.43800 |
| 2nd High | 98.40500 |
| Next High | 98.25800 |
| Current Price | 98.11400 |
| Next Low | 97.78000 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |