AUD/JPY – 4H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 96.92900 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 99.16100 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Top’ candle pattern is found. The chart shows ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.39800 |
| 2nd High | 101.55400 |
| Next High | 99.16100 |
| Current Price | 97.82000 |
| Next Low | 96.92900 |
| 2nd Low | 95.79700 |
| 3rd Low | 95.51400 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top