AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A descending movement downwards to the next support line at 95.76 is likely expected.
Caution: A possible change in the direction of resistance at 96.76 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Outside Down’ candlestick pattern is found. The chart shows ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 96.985 |
| 2nd High | 96.78 |
| Next High | 96.76 |
| Current Price | 96.53700 |
| Next Low | 95.76 |
| 2nd Low | 95.703 |
| 3rd Low | 95.62 |
96.162 – 96.08 – 96.061 – 95.76 – 95.703 – 95.765 — 45.284146480518 – 43.426599350113 — 26.055565710108 – 13.5091086334 – 39.617478015394 – 27.905217408964
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Double bottom retreat down – –