AUD/JPY – 1H – SELL

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

A descent downwards to the next support line at 102.094 is considered certain.

Caution: A possible change in the direction of resistance at 102.842 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘%K fall below 80’ indicator signal is discovered. The indicator is ‘%K fall below 80’. which is often a bearish chart signal. The currency pair could go down.

Next a ‘MACD crosses below signal’ indicator signal is discovered. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 102.174 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 102.842 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Down’ candle chart pattern is discovered. The candles show ‘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 success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

102.842 – 102.505 – 102.495 – 102.094 – 102.096 – 102.013 —
102.56900 – 102.61300 —
56.762824318809 – 57.908681017508 —
– —
102.84200 – 1764831600

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Double bottom chart pattern – – – – – – – –