AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 92.21400 is expected.
Caution: A possible change in the direction of resistance at 93.54400 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ chart pattern is existing. The candles form ‘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 | 95.30700 |
| 2nd High | 93.56100 |
| Next High | 93.54400 |
| Current Price | 92.97200 |
| Next Low | 92.21400 |
| 2nd Low | 92.11000 |
| 3rd Low | 90.69100 |
93.54400 – 93.33600 – 93.56100 – 92.21400 – 92.11000 – 92.84100
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows