AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance level at 97.53600 will continue.
Caution: A possible trend reversal in the direction of the support zone at 95.61100 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ candlestick chart pattern is found. The candles show ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.02700 |
| 2nd High | 98.01100 |
| Next High | 97.53600 |
| Current Price | 97.69200 |
| Next Low | 95.61100 |
| 2nd Low | 95.51400 |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three Outside Up