AUD/JPY 1H Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
With the end of November also the pair's up-trend came to an end and it started to decline. By doing that the pair was pushed into a 95-bar long falling wedge pattern.
At the moment, the Aussie is testing the upper trend-line of the pattern and the monthly S1 at 98.44. Moreover, the pair has fallen below the high importance level at 100. With the bearish technical indicators there is a chance of the currency pair sliding lower below the 97 mark. However, the SWFX traders' have a different point of view, as a distinct majority of them have opened a long positions towards the pair, namely 72% of them.
© Dukascopy Bank SA
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