AUD/JPY Is Falling

AUD/JPY moved to the upside for several days until it finally found resistance at 84.15 and bounced off from that level after forming a pair of candlesticks on the four-hour time-frame that were a great signal for the reversal. Namely, it formed a shooting star candlestick and a doji candlestick below the aforementioned resistance level. Currently the pair is testing the support at 83.35 and it is very likely to break out below that level as well. If or when it does, it will likely continue falling towards the next support, which is at 82.85 and coincides with the (MA)89 indicator on the four-hour time-frame. A breakout below that support too could lead to a further drop towards 82.00.