Harami pattern defies AUD/JPY uptrend

FXStreet Algorythms FXStreet

A harami cross pattern spotted on the AUD/JPY weekly chart chart indicates a trend change from bullish to neutral.

Prices challenged the 21-period 2 standard deviation upper band by printing outside of its boundaries in the last two weeks. The bearish pattern also happens in the context of a 14,3,3-parametrized stochastic tracking above 80. This oscillator could easily react with any future close near the lows, specially after last week's open and close prices formed a doji line on the chart.

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FXStreet Algorythms

FXStreet

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