AUD/JPY – 4H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support at 96.92900 is likely expected.
Caution: A possible change in the direction of the resistance line at 99.16100 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle chart pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 97.73300 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows