AUD/JPY – 1H – BUY

The pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards

A continuation of the downward movement downwards to the next support level at 97.66400 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 98.49900 should always be considered.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Down’ candlestick chart pattern is existing. The chart forms ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down