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FX.co ★ AUDJPY M5: Head and Shoulders

AUDJPY M5: Head and Shoulders

Head and ShouldersThe Head and Shoulders pattern has formed on the AUDJPY M5 chart. The head high is at 112.60, while the neckline passes through 112.49/112.47. The pattern may reverse the current uptrend. A break below the lower neckline anchor may confirm the bearish reversal.
The M5 and M15 time frames may generate more false entry signals.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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