AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 95.90400 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 97.00200 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Evening Star’ candle pattern is existing. The candles show ‘Evening Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 97.53600 |
| 2nd High | 97.14200 |
| Next High | 97.00200 |
| Current Price | 96.63100 |
| Next Low | 95.90400 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Evening Star