AUD/JPY – 30M – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline downwards
A bearish movement downwards to the next support at 97.52200 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 98.73100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Top’ candle pattern is discovered. The chart forms ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘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 | 98.16700 |
| Next Low | 97.52200 |
| 2nd Low | 97.49000 |
| 3rd Low | 97.04900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top