AUD/JPY – 30M – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A descending movement downwards to the next support level at 97.90200 will continue.
Caution: A possible change in the direction of the resistance line at 98.43800 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Bearish Separating Lines’ candlestick pattern is existing. The chart shows ‘Bearish Separating Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Separating Lines’ going down is 63% (Bull Market) & 76% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.43800 |
| Current Price | 98.22700 |
| Next Low | 97.90200 |
| 2nd Low | 97.86300 |
| 3rd Low | 97.77900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Separating Lines