AUD/JPY – 4H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish descent down to the next support level at 95.98200 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 97.79400 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Down’ candle chart pattern is discovered. The candles show ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 97.79400 |
| Current Price | 97.59400 |
| Next Low | 95.98200 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down