AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 97.49000 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 98.49900 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Tweezers Top’ chart pattern is existing. The chart shows ‘Tweezers Top’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.02600 |
| 2nd High | 99.16100 |
| Next High | 98.49900 |
| Current Price | 97.78200 |
| Next Low | 97.49000 |
| 2nd Low | 97.04900 |
| 3rd Low | 96.92900 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top