AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline down.
A descending movement downwards to the next support line at 93.51400 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 95.30700 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Two Crows’ chart pattern is discovered. The chart forms ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 95.74300 |
| 2nd High | 95.39200 |
| Next High | 95.30700 |
| Current Price | 94.75100 |
| Next Low | 93.51400 |
| 2nd Low | 92.80500 |
| 3rd Low | 92.46400 |
93.32700 – 93.54400 – 92.80900 – 93.51400 – 92.80500 – 92.46400