AUD/JPY – 30M – SELL

The pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bullish trendline down.

A descent downwards to the next support line at 92.46400 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 93.54400 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 92.879 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 93.54400 could be enabled.
Consider stop-loss settings accordingly.

Then a ‘Three Inside Down’ candle pattern is discovered. The chart forms ‘Three Inside Down’. 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 success rate of a ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

Then a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

93.54400 – 92.80900 – 92.76300 – 92.46400 – 92.21400 – 92.60500

Download AUD/JPY Signal Image

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Inside Down