AUD/JPY – 30M – SELLBesides a ‘Double top chart pattern’ chart pattern is found. The chart picture shows ‘Double top chart pattern’. which is a bearish chart scenario. The currency pair is likely to go down.
The currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 93.23200 is certain.
Caution: A possible change in the direction of resistance at 93.90700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ candle pattern is discovered. The candles show ‘Three Black 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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 94.74500 |
| 2nd High | 94.71000 |
| Next High | 93.90700 |
| Current Price | 93.39000 |
| Next Low | 93.23200 |
| 2nd Low | 93.03000 |
| 3rd Low | 92.55100 |
93.90700 – 94.71000 – 94.58500 – 93.23200 – 93.30100 – 94.19000
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows