AUD/JPY – 30M – SELL

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

A continuation of the bearish trend downwards to the next support at 94.39800 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 94.74500 could occur.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The pair is likely to go down.

Next a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 94.225488 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 94.74500 could occur.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candle chart pattern is discovered. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. 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 Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

94.74500 – 94.84800 – 94.63200 – 94.39800 – 94.05600 – 94.23100

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Double bottom retreat down