AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 96.75400 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 98.01100 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candlestick pattern is discovered. The chart forms ‘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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.02700 |
| Next High | 98.01100 |
| Current Price | 97.17800 |
| Next Low | 96.75400 |
| 2nd Low | 96.26700 |
| 3rd Low | 95.65700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows