AUD/JPY – 30M – SELL

The combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards

A descent down to the next support level at 108.85 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 109.761 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 108.8015 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 109.761 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Last Engulfing Bottom:’ candlestick chart pattern is detected. The chart forms ‘Last Engulfing Bottom:’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

109.761 – 109.2 – 108.675 – 108.85 – 108.369 – 107.842 —
109.26700 – 109.33200 —
51.028355291902 – 51.501017753774 —
– —
109.761 – 1771493400

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Last Engulfing Bottom: – – – – – – – – –