AUD/JPY – 1H – SELL

Besides a ‘Head and Shoulder chart pattern’ chart layout is detected. The formation shows ‘Head and Shoulder chart pattern’. which is a bearish chart scenario. The currency pair is likely to fall.

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the descending trendline downwards

A continuation of the downward movement downwards to the next support level at 93.79900 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 94.26100 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Besides a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

94.26100 – 94.48400 – 94.41000 – 93.79900 – 93.94000 – 93.93800

Trading Signals: FOREX – AUD – AUD/JPY – JPY – Northern Doji