AUD/JPY – 1H – SELL

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards

A bearish descent down to the next support line at 106.519 is expected.

Caution: A possible change in the direction of the resistance zone at 108.566 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘StochRSI %K line crosses below %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 107.319 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 108.566 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Inside Down’ candlestick pattern is discovered. The chart forms ‘Three Inside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

108.566 – 107.138 – 107.087 – 106.519 – 106.074 – 106.072 —
107.28700 – 107.98700 —
41.332606749779 – 53.481518393164 —
– —
108.56600 – 1769670000

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Inside Down – Double bottom chart pattern – – – – – – – –