AUD/JPY – 1H – SELL

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 112.9435 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 114.369 could be enabled.
Consider stop-loss settings accordingly.

Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish 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%.

114.369 – 114.242 – 113.408 – 113.83 – 113.011 – 112.611 —
114.25800 – 114.07200 —
60.303360096126 – 34.218216592023 —
– —
114.369 – 1776412800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –