AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
A bearish descent down to the next support level at 95.79700 is expected.
Caution: A possible change in the direction of the resistance line at 98.73100 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.10600 |
| Next Low | 95.79700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows