AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
The bearish trend downwards to the next support at 91.33100 is expected.
Caution: A possible change in the direction of the resistance level at 92.21600 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Two Crows’ candlestick pattern is detected. The chart forms ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.30700 |
| 2nd High | 93.13100 |
| Next High | 92.21600 |
| Current Price | 91.76200 |
| Next Low | 91.33100 |
| 2nd Low | 90.54800 |
| 3rd Low | 89.63300 |
92.21600 – 91.60000 – 91.02900 – 91.33100 – 90.54800 – 89.63300