AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 96.37300 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 98.19400 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle chart pattern is found. The chart shows ‘Three Black 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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.65600 |
| 2nd High | 98.49900 |
| Next High | 98.19400 |
| Current Price | 97.60600 |
| Next Low | 96.37300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows