AUD/JPY – 1H – BUYThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance at 97.95600 will continue.
Caution: A possible counter-trend in the direction of the support level at 97.00600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candle pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.05700 |
| Next High | 97.95600 |
| Current Price | 98.04200 |
| Next Low | 97.00600 |
| 2nd Low | 96.95800 |
| 3rd Low | 95.98200 |
Trading Signals: FOREX – AUD – AUD/JPY – JPY – Three White Soldiers