AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 96.44700 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 97.14800 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 96.00192 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 97.14800 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.01100 |
| 2nd High | 97.79400 |
| Next High | 97.14800 |
| Current Price | 96.58200 |
| Next Low | 96.44700 |
| 2nd Low | 95.61100 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows