AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) jumps from the ascending trendline down.
A bearish descent down to the next support level at 94.56400 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 95.36500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Tweezers Top’ candlestick pattern is discovered. The chart shows ‘Tweezers Top’. which is a negative pattern signal. The pair is likely to go down. 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 | |
| 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 – Triple top chart pattern