AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the bullish trendline down.
A bearish descent down to the next support line at 97.10200 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 98.73100 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Tweezers Top’ candlestick chart pattern is found. The candles form ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.21500 |
| 2nd High | 98.74700 |
| Next High | 98.73100 |
| Current Price | 97.83200 |
| Next Low | 97.10200 |
| 2nd Low | 96.92900 |
| 3rd Low | 95.79700 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top