AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
The bearish trend down to the next support line at 95.79700 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 98.73100 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Three Line Strike – Bearish’ chart pattern is detected. The candles show ‘Three Line Strike – Bearish’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.04100 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Line Strike – Bearish