AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 96.37300 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 97.88000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Two Crows’ candlestick chart pattern is found. The chart shows ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.49900 |
| 2nd High | 98.19400 |
| Next High | 97.88000 |
| Current Price | 97.62900 |
| Next Low | 96.37300 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.61100 |