FX.co ★ AUDJPY M15: Head and Shoulders

According to the chart of M15, AUDJPY formed the Head and Shoulders pattern. The Head’s top is set at 97.24 while the median line of the Neck is found at 96.89/96.87. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDJPY will go towards 96.64.