AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the descending trendline down.
A continuation of the downward movement down to the next support level at 93.14600 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 95.11300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish signal. 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 | 95.74300 |
| 2nd High | 95.39200 |
| Next High | 95.11300 |
| Current Price | 93.66300 |
| Next Low | 93.14600 |
| 2nd Low | 92.53000 |
| 3rd Low | 92.29400 |
95.11300 – 95.39200 – 95.18400 – 94.63100 – 94.84200 – 94.41400
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows