AUD/JPY – 1H – SELLThe pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline downwards
A bearish trend downwards to the next support at 94.56400 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 95.36500 could occur.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candlestick pattern is found. The candles show ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 95.64000 |
| Next High | 95.36500 |
| Current Price | 94.63800 |
| Next Low | 94.56400 |
| 2nd Low | 94.32900 |
| 3rd Low | 94.11700 |
95.36500 – 94.67800 – 94.88600 – 94.56400 – 94.32900 – 94.11700
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Tweezers Top – Inverse Head and Shoulder chart pattern