Two "head and shoulders" pattern of AUD/JPY

Two "head and shoulders" pattern of AUD/JPY

Information is not investment advice

On the H4 of AUD/JPY, the pair formed the “Head and shoulders” pattern. However, the same pattern was formed on H1, Up to now, on H1, the pair has rebounded from its target at 75.20 and has been moving up. Until the pair stays above 75.27, we can anticipate a return towards 75.44. As soon as the pair closes below 75.27, on H4, we may see a decline to the pattern’s target at 74.975 with a possible correction near 75.08.  

AUDJPYH4.png

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