AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 90.58300 will continue.
Caution: A possible change in the direction of the resistance line at 91.67700 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Two Crows’ chart pattern is existing. The chart shows ‘Two Crows’. 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 probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 93.13100 |
| 2nd High | 92.21600 |
| Next High | 91.67700 |
| Current Price | 91.33900 |
| Next Low | 90.58300 |
| 2nd Low | 90.54800 |
| 3rd Low | 89.63300 |
91.67700 – 92.21600 – 91.60000 – 90.58300 – 91.19600 – 91.33100