AUD/JPY – 1H – SELLThe combination Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
The bearish trend down to the next support at 94.56400 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 95.36500 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Tweezers Top’ candlestick chart pattern is existing. The candles show ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 –