AUD/JPY – 1H – SELL

The combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.

The bearish trend downwards to the next support line at 97.78000 is considered certain.

Caution: A possible trend reversal in the direction of resistance at 98.72700 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 98.2335 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 98.72700 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Harami’ candlestick pattern is found. The candles show ‘Bearish Harami’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Harami