Potentially Strong Reversal Coming Soon
AUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing.
Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period.
Scaling into the 1HR chart, we can see the formation of a descending wedge in place of the consolidation period of the 4HR chart.
All these descending chart patterns in multiple timeframes indicate that a strong reversal is on its way. If you're watching this pair, I hope you can capture the move!
Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period.
Scaling into the 1HR chart, we can see the formation of a descending wedge in place of the consolidation period of the 4HR chart.
All these descending chart patterns in multiple timeframes indicate that a strong reversal is on its way. If you're watching this pair, I hope you can capture the move!
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