AUD/JPY – 30M – SELL

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

A descending movement down to the next support level at 95.76 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 96.83 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. 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 Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

96.83 – 96.886 – 96.162 – 95.76 – 95.703 – 95.765 — 56.889958642537 – 42.523655723836 — 48.312579884548 – 32.272713004063 – 59.154671826056 – 48.197672652959

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Down – Double top retreat up – –