AUD/JPY – 30M – SELLThe combination jumps from the ascending trendline down.
A bearish trend down to the next support line at 100.15400 is likely expected.
Caution: A possible change in the direction of the resistance zone at 101.42300 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 100.481848 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 101.42300 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 101.68600 |
| Next High | 101.42300 |
| Current Price | 100.74000 |
| Next Low | 100.15400 |
| 2nd Low | 100.03000 |
| 3rd Low | 99.93900 |