AUD/JPY – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 97.983514 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 98.73100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ candlestick pattern is found. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.88000 |
| Next Low | 97.78000 |
| 2nd Low | 97.77900 |
| 3rd Low | 97.74000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows