AUD/JPY – 4H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 92.11000 is certain.
Caution: A possible change in the direction of the resistance line at 93.56100 could occur.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles show ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.39200 |
| 2nd High | 95.30700 |
| Next High | 93.56100 |
| Current Price | 93.02000 |
| Next Low | 92.11000 |
| 2nd Low | 90.58300 |
| 3rd Low | 89.63300 |
93.56100 – 92.21600 – 91.40300 – 92.11000 – 90.58300 – 89.63300
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down