AUD/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 97.706 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 98.41000 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.41000 |
| Current Price | 98.36600 |
| Next Low | 97.70600 |
| 2nd Low | 97.62000 |
| 3rd Low | 96.70700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows