AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 111.355 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 111.708 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Shooting Star’ candlestick chart pattern is discovered. The candles show ‘Shooting Star’. 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 success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 111.992 |
| 2nd High | 111.766 |
| Next High | 111.708 |
| Current Price | 111.41800 |
| Next Low | 111.355 |
| 2nd Low | 111.305 |
| 3rd Low | 111.237 |
111.708 – 111.766 – 111.992 – 111.355 – 111.305 – 111.237 —
111.57300 – 111.54600 —
48.295047080433 – 43.033320959848 —
– —
111.708 – 1782727200
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Shooting Star – – – – – – – – –