AUD/JPY – 1H – SELL

The pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 108.041 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 109.638 could happen.
Consider stop-loss settings accordingly.

Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which is often a bearish signal. The currency pair could go down.

Furthermore a ‘Shooting Star’ candlestick chart pattern is detected. The candles form ‘Shooting Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).

109.638 – 109.525 – 110.658 – 108.641 – 108.559 – 109.016 —
108.99000 – 109.07500 —
42.158037624638 – 43.997918547669 —
– —
109.638 – 1770825600

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Shooting Star – Rising Wedge Chart Pattern – – – – – – – –