AUD/JPY – 30M – SELL

Then a ‘Rising Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to go down.

The currency pair Australian Dollar/Japanese Yen (AUD/JPY) goes from the ascending trendline down.

A bearish movement downwards to the next support line at 94.58200 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 96.49300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘On Neck’ candlestick pattern is discovered. The candles show ‘On Neck’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

96.49300 – 95.36500 – 94.63700 – 94.58200 – 94.56400 – 94.45700 — 43.239261408905 – 41.507788750952 — 3.4591177034904 – 1.2966873769371 – 3.0268885778447 – 2.7383075946393

Trading Signals: FOREX – AUD – AUD/JPY – JPY – On Neck – Rising Wedge Chart Pattern – –