AUD/JPY – 30M – SELL

The pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the descending trendline downwards

A continuation of the downtrend downwards to the next support level at 97.52200 is certain.

Caution: A possible trend reversal in the direction of the resistance line at 98.49900 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-Level.Continuation of the current descending trend is certain. Current target is 98.048 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 98.49900 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Black Crows’ chart pattern is detected. 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 likelyhood of ‘Three Black Crows’ heading down is 82%.

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows