AUD/JPY – 30M – SELL

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 108.559 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 109.48 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

109.48 – 109.399 – 109.638 – 108.641 – 108.559 – 108.688 —
109.02300 – 108.52600 —
41.317277186057 – 40.858828739759 —
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109.48 – 1770910200

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing – – – – – – – – –