AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.
A bearish descent down to the next support level at 97.52200 is expected.
Caution: A possible counter-trend in the direction of resistance at 98.90500 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 98.90500 |
| Current Price | 98.28900 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows