By: Dima Chernovolov

AUD/JPY continues to fall after the earlier breakout of the 4-hour Descending Triangle chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Descending Triangle at the 6-bar level – which is the result of the slow Initial Trend (4 bars), substantial Uniformity (9 bars) and strong Clarity (8 bars). AUD/JPY expected to fall toward the forecast price 81.57 – in line with the sharp active daily impulse wave from the resistance level shown below.


As can be seen from the daily AUD/JPY chart below, the price earlier reversed down from the resistance level 84.50 (former strong multi-month support level from November) – which started the active strong daily impulse wave. The strength of the active daily impulse wave increases the probability the price will continue to fall toward the forecast price 81.57.


To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.


For further information on this and other Autochartist products visit


You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.