AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 100.82900 will persist.
Caution: A possible trend reversal in the direction of resistance at 101.14200 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ chart pattern is found. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.28500 |
| 2nd High | 101.55400 |
| Next High | 101.14200 |
| Current Price | 100.34300 |
| Next Low | 100.82900 |
| 2nd Low | 100.56500 |
| 3rd Low | 99.48200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows