AUD/JPY – 30M – SELL

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

A continuation of the downtrend down to the next support at 113.919 is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 114.542 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 114.086776 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 114.542 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Inside Down’ candlestick chart pattern is discovered. The chart shows ‘Three Inside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

114.542 – 114.703 – 114.668 – 113.919 – 114.199 – 114.074 —
114.19000 – 114.33700 —
48.268966844511 – 59.09897391551 —
– —
114.542 – 1777474800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Inside Down – – – – – – – – –