AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A descending movement down to the next support level at 94.56400 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 95.36500 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Tweezers Top’ candle pattern is existing. The candles show ‘Tweezers Top’. 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 probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 95.64000 |
| Next High | 95.36500 |
| Current Price | 94.63800 |
| Next Low | 94.56400 |
| 2nd Low | 94.32900 |
| 3rd Low | 94.11700 |
95.36500 – 94.67800 – 94.88600 – 94.56400 – 94.32900 – 94.11700
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top –