AUD/JPY – 1H – SELL

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

A continuation of the bearish trend down to the next support level at 95.51500 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 96.06900 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Two Crows’ candlestick pattern is discovered. The candles form ‘Two Crows’. which is a negative chart scenario. 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).

96.06900 – 96.49300 – 95.36500 – 95.51500 – 94.58200 – 94.56400 — 50.147449831254 – 49.873565784206 — 74.623109738 – 82.934094265475 – 61.109300111838 – 74.097833341857

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Two Crows – Double bottom chart pattern – –