AUD/JPY – 30M – SELL

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.

A continuation of the bearish trend down to the next support level at 108.06 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 108.785 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘MACD crosses below signal’ indicator layout is discovered. The indicator is ‘MACD crosses below signal’. which could be a negative signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 107.967 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support level at 108.785 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which 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 likelyhood of ‘Three Black Crows’ heading down is 82%.

108.785 – 109.48 – 109.399 – 108.06 – 108.128 – 107.967 —
108.28600 – 108.51700 —
44.565857384734 – 46.575698154415 —
– —
108.785 – 1770953400

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Black Crows – Rising Wedge Chart Pattern – – – – – – – –