AUD/JPY – 30M – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the bullish trendline downwards
A bearish descent down to the next support level at 98.15100 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 99.16100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Tweezers Top’ chart pattern is existing. The candles form ‘Tweezers Top’. this is a bearish chart scenario. The 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 | 100.30800 |
| 2nd High | 99.21500 |
| Next High | 99.16100 |
| Current Price | 98.49200 |
| Next Low | 98.15100 |
| 2nd Low | 97.52200 |
| 3rd Low | 97.49000 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top